• Globally, in 2023, Assets Under Management (AuM) Rose by 12% to Nearly $120 Trillion.
• BCG’s 22nd Annual Global Asset Management Report Examines How AI Improves Productivity, Customer Engagement, and Private Market Expansion.

Dubai, June 5, 2024 – Boston Consulting Group (BCG) has released its 2024 Global Asset Management Report, highlighting the Middle Eastern asset management sector’s significant contribution to the industry’s growth. According to the report, the region’s Assets Under Management (AuM) surged by 13%, rising from $2 Trillion in 2022 to $2.3 Trillion in 2023, emphasizing the sector’s pivotal role in the global asset management landscape.

BCG’s latest report, “AI and the Next Wave of Transformation,” comprehensively analyzes how artificial intelligence reshapes the asset management industry. The report surveyed asset managers who collectively oversee over $15 Trillion in assets and reveals a strong consensus among industry leaders that a shift toward AI-driven management is essential.

UAE Payments Revenue Pool Projected to hit $19.8 Billion by 2027, Despite a Global Slowdown in Growth Rates Compared to Previous Years

• Global payment revenues are projected to grow by $2.2 Trillion by 2027 at a CAGR of 6.2%.
• The total payments revenue for the UAE payments industry grew at an annual rate of 9.7%, reaching $12.8 Billion by the end of 2022.

Dubai, UAE 13 November 2023: Amid global challenges such as the pandemic and economic fluctuations, the UAE payments industry has demonstrated resilience. Between 2018 and 2022, the total revenue for the UAE payments industry grew at a Compound Annual Growth Rate (CAGR) of 9.7%, reaching a revenue pool of $12.8 Billion by the end of 2022. In contrast, the global payments industry registered an annual growth rate of 8.3% to reach $1.6 Trillion by the end of 2022. According to the latest report from Boston Consulting Group (BCG), titled ‘Global Payments Report 2023’, slower growth is on the horizon globally.

BCG’s in-depth analysis of the UAE payments sector expects that the overall revenue growth will increase in the next 5 years (2023-2027) to a CAGR of 3.6% pushing the revenue pool to $19.8 Billion. In comparison, the global payment revenues are projected to grow by $2.2 Trillion by 2027 at a CAGR of 6.2%.  The report provides an in-depth market analysis, exploring challenges and opportunities for acquirers, issuers, and other key players in the UAE payments ecosystem.

UAE’s Financial Wealth to Grow by 5.5% Annually, Reaching USD 1.3 Trillion by 2027

• In 2022, 25% of the UAE’s financial wealth came from Ultra High Net Worth individuals worth more than USD 100 million, and individuals with wealth between USD 1 million – USD 20 million held another 32%
• A new BCG report projects that the UAE’s financial wealth will increase from USD 1 trillion in 2022 to USD 1.3 trillion in 2027
• Equities & investment funds remain the largest asset class in the UAE, making up 58% of total onshore personal wealth in 2022, with bonds expected to have the fastest growth at an 8.4% CAGR between 2022 – 2027

Up to $85 billion needed in investments to achieve sustainable waste management in the GCC

A joint WBCSD-BCG study highlights key value streams in the GCC to achieve a circular economy by 2040

Dubai, UAE October 3 2022: With the expansion of GCC urban areas, municipalities in the GCC are challenged to handle the ever-increasing waste generation through the existing landfill strategies. However, many GCC countries are already investing to improve their waste management, with deals soaring in volume and value in 2019, according to a new report by Boston Consulting Group (BCG) in collaboration with the World Business Council for Sustainable Development (WBCSD). The report, titled “Recycling in the GCC: Securing Valuable Resources for a Sustainable Future”, finds that securing finite resources for future generations and minimizing environmental impact will depend on further increasing waste collection and recycling targets globally as well as across the GCC.