Prime Highlights:
- Saudi Arabia’s financial wealth reached $1.25 trillion in 2024, marking a 4.4% increase from 2023.
- Key financial assets, including stocks, cash, and life insurance/pensions, are expected to grow significantly by 2029.
Key Facts:
- In 2024, most assets were in stocks ($339 billion) and cash/deposits ($300 billion).
- By 2029, stocks are projected to reach $398 billion, cash/deposits $414 billion, and life insurance/pensions $140 billion.
Background:
Saudi Arabia’s financial wealth rose to $1.25 trillion in 2024, up 4.4% from 2023. This shows steady growth and a more diverse group of investors.
Financial assets rose from $1.2 trillion in 2023, and total wealth reached a record $3.7 trillion by 2024. Real assets are the biggest part of this wealth and are expected to grow to $2.94 trillion by 2029.
Overall, the report reflects increasing confidence from global institutions. Earlier this month, the World Bank upgraded Saudi Arabia’s 2025 economic growth forecast to 3.8 percent, citing renewed strength in both oil and non-oil sectors. The International Monetary Fund has also raised its growth outlook for the Kingdom to 4 percent for 2025 and 2026.
“Saudi Arabia’s wealth ecosystem is at an inflection point,” said Bhavya Kumar, managing director and partner at BCG. “With financial wealth at $1.25 trillion and real assets holding steady, we are seeing the maturation of a more advanced investor base.”
BCG reported that liabilities rose 6.8 percent to $307 billion in 2024, helping maintain balanced wealth growth. Investable wealth is expected to grow from $1.04 trillion in 2024 to $1.31 trillion by 2029, increasing at 4.7% per year.
In 2024, assets were mainly stocks ($339B) and cash ($300B); by 2029, they could grow to stocks $398B, cash $414B, and life insurance/pensions $140B. BCG added that success in Saudi Arabia’s evolving wealth management market will increasingly depend on adviser development, brand strength and next-generation client strategies, rather than traditional growth drivers alone.
