• Saudi Arabia and the UAE lead retail mutual fund growth, while Abu Dhabi and Kuwait’s SWFs manage the largest volume of assets in the region
• AuM in 2024 represents a 9% growth from 2023

Dubai, August 13, 2025 – The GCC’s asset management industry grew to $2.2trillion in Assets under Management (AuM) in 2024, a 9% increase from the previous year, according to the 23^rd edition of the Global Asset Management report, titled “From Recovery to Reinvention” by Boston Consulting Group (BCG).

In the retail mutual fund sector, Saudi Arabia and the UAE have been the principal contributors to growth. As for sovereign wealth funds (SWFs), the largest volumes of assets have been managed by major players in Kuwait and Abu Dhabi.

• The UAE’s payments revenue reached $18.8 billion in 2023 and is projected to grow to $27.3 billion by 2028, with a compound annual growth rate (CAGR) of 7.8%.
• Transaction volumes in the UAE are expected to increase by 78%, reaching 3.1 billion by 2028.
• Global payments revenues are forecast to rise from $1.8 trillion in 2023 to $2.3 trillion by 2028 at a slower CAGR of 5%.