• Real assets saw a stronger increase of 14.9% from 2023 to 2024, reaching $90 billion from $78 billion in 2023.
  • Liabilities rose by 9.6%, from $4.98 billion in 2023 to $5.46 billion in 2024.
  • BCG projects investable wealth to rise from $55 billion in 2024 to $64 billion by 2029, growing at a CAGR of 3.1%.
  • Most firms today rely on market performance, M&A, and advisor recruitment to capture revenue; however, they must have the ability to innovate and build internal capabilities to outperform peers.

Manama – Bahrain’s financial wealth grew by 4.3% between 2023 to 2024, rising from $73 billion to $76 billion. Real assets saw exceptional growth of 14.9%, reaching $90 billion in 2024 from $78 billion in 2023, with projected growth to $138 billion by 2029. Liabilities also increased by 9.6%, from $4.98 billion to $5.46 billion.

The Global Wealth Report 2025: Rethinking the Rules for Growth by Boston Consulting Group reveals that investable wealth is projected to grow from $55 billion in 2024 to $64 billion by 2029, with a 3.1% CAGR growth. Non-investable wealth grows more modestly, but picks up pace post-2024, suggesting a shift in asset allocation or valuation.

Wealth continues to grow steadily but the dynamics behind that growth are shifting—and the implications for firms are profound. Most firms have leaned heavily on market performance, M&A, and advisor hiring. While these levers remain important, they're not enough. The limiting factor for many firms isn't opportunity, but their ability to capture it from within.

The firms gaining traction are investing in the capabilities that matter most: a clearer market presence, more deliberate client acquisition, better-equipped advisors, and earlier, more relevant engagement with rising generations. Technology plays a central role in scaling these capabilities.

Lukasz Rey, Managing Director and Partner, said: "The key to success today is no longer merely about gaining market exposure or hiring senior bankers; it's about fostering internal growth. Companies that strategically prioritize advisor development, strengthen their brand identity, and embrace next-generation client strategies are outpacing their competitors—not only in revenue generation but also in achieving higher valuation multiples."

The key Bahrain findings of BCG's new proprietary analysis are:

  • Financial wealth reaches $76 billion in 2024, with steady growth projected to $88 billion by 2029 (2.9% CAGR)
  • Real assets grew to $90 billion in 2024, expected to expand further to $138 billion by 2029 (CAGR: 9.1%).
  • Liabilities increased to $5.46 billion in 2024, and are projected to reach $8 billion by 2029 (CAGR: 8.1%)
  • Equities & Currency & Deposits are the dominant asset classes in 2024, valued at $30 billion and $20 billion, respectively. They are projected to grow to $34 billion and $23 billion by 2029, with CAGRs of 2.2% and 2.7%.
  • Bonds show promising expansion from $3 billion in 2024 to $4 billion by 2029, with a CAGR of 6.1%
  • Life Insurance & Pensions reported a value of $1 billion in 2024, and is projected to grow at a 1.6% CAGR by 2029.
  • Other assets (e.g., alternative investments) are substantial at $22 billion in 2024, with a projected increase to $27 billion by 2029, reflecting diversified portfolios (CAGR: 3.8%).

Strategic Imperatives

According to the report, organic growth is emerging as a central focus of the performance agenda. The report identifies four high-impact levers for firms looking to elevate their organic growth engines:

  • Brand Differentiation: Building trust and relevance through clear identity and messaging while strengthening digital marketing
  • GenAI-Driven Client Acquisition: Using agentic AI to identify high-potential prospects, build comprehensive profiles, and enable highly personal outreaches
  • Data-Driven Recommendation Systems: By integrating data across all business lines, wealth managers can build a comprehensive view full of signals about what a client might need next.
  • Next-Gen Client Engagement: Personalizing the client journey for younger investors with digital-native expectations

"Companies that adopt AI for prospecting, tailor the onboarding experience, and leverage digital tools to enhance productivity are poised to lead the next growth surge. While wealth generation is on the rise, the real test for wealth managers lies in their ability to seize these opportunities," added Lukasz Rey, Managing Director and Partner at BCG.

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