Saudi Arabia’s net wealth has hit a record-high, reaching $3.70 trillion by 2024, according to the Boston Consulting Group’s (BCG) Global Wealth Report 2025.
This marks a 4.4% growth in financial wealth over the past year, from $1.20 trillion in 2023 to $1.25 trillion in 2024. Real assets lead the composition of Saudi wealth, currently at $2.76 trillion, with expectations to swell to $2.94 trillion by 2029, growing at a rate of 1.3% annually.
The report outlines a projection of rising investable wealth in Saudi Arabia, anticipating growth from $1.04 trillion in 2024 to $1.31 trillion by 2029.
This reflects a compound annual growth rate (CAGR) of 4.7%. Meanwhile, non-investable wealth is expected to see a 5.3% increase, highlighting ongoing economic development and significant infrastructure investments within the Kingdom.
Liabilities in the Kingdom rose by 6.8%, reaching $307 billion in 2024, yet the nation maintains a stable growth trajectory overall.
The report underscores that firms need to pivot towards innovation and internal capability development, moving beyond traditional revenue streams reliant on market conditions, mergers and acquisitions, and advisor recruitment.
Saudi Arabia’s wealth management scene is undergoing significant shifts, as stressed by Lukasz Rey, a Managing Director and Partner at BCG.
Successful firms are investing in brand development, advisor training, and engaging the younger generation with more digital offerings, capitalising on the transformative influence of technology.
Further analysis from BCG notes financial wealth is poised to reach $1.58 trillion by 2029, while liabilities could expand to $422 billion, marking a CAGR of 6.6%.
Equities, currencies, and deposits remain the dominant asset classes, projected to expand significantly in value by 2029.
The life insurance and pensions sector also presents growth opportunity, expected to rise from $99 billion in 2024 to $140 billion over five years, displaying a 7.1% growth rate.
The report outlines strategic imperatives for sustaining organic growth, emphasising brand differentiation, GenAI-driven client acquisition, data-driven recommendation systems, and personalised engagement for the new generation of investors.
As Saudi Arabia’s wealth landscape evolves, firms that adapt by enhancing their digital presence, streamlining client acquisition methods, and responding to investor needs are likely to gain a competitive edge.
The BCG’s findings indicate a maturing investor base coupled with positive economic indicators, setting the stage for robust growth in the nation’s financial ecosystem.
