Saudi Arabia On Its Way to Be Regional, Global Center For The Rich

Writer and economic expert Daniah Orkoubi confirmed that Saudi Arabia is now ready to turn into a regional and global center to attract the wealthy, given the great potential it possesses and the continuing developments in its legislative and regulatory environment, reported Sabq.

The Kingdom is expected to attract more than 300 millionaires in 2024, but it needs more effort and continuous development to be able to compete with the most important global havens.

In her article, “Is Saudi Arabia becoming a preferred destination for the wealthy?”, Orkoubi says, that traditional havens for wealthy people are witnessing great changes in light of the rapid rise of new destinations. She noted that Saudi Arabia – the largest economy in the Middle East – can become one of the most important countries that attract the wealthy.

She added that the state of economic recovery it is experiencing thanks to Vision 2030 and the strong economic relations with various countries make it an important position for investors.

The developments taking place in the regulatory environment aim to transform it into a global financial, commercial and cultural center. In addition, due to the strong performance of the Saudi financial market, it has become one of the most important active markets in the world. All these factors make it ready to play a global role in the field of attracting wealth.

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