• Real assets reached $2.76 trillion as the biggest component of overall wealth.
  • BCG projects investable wealth to rise from $1.04 trillion in 2024 to $1.31 trillion by 2029, growing at a CAGR of 4.7%.
  • Liabilities increased by 6.8% in 2024, reaching $307 billion in 2024, from $287 billion in 2023.
  • 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.

Riyadh – Saudi Arabia's financial wealth grew by 4.4% between 2023 to 2024, rising from $1.20 trillion to $1.25 trillion. Real assets represent the largest component of Saudi Arabia's overall wealth at $2.76 trillion, with projected growth to $2.94 trillion by 2029. Liabilities increased by 6.8% to $307 billion in 2024, maintaining the kingdom’s overall wealth growth balanced.

The Global Wealth Report 2025: Rethinking the Rules for Growth by Boston Consulting Group reveals that investable wealth is projected to grow from $1.04 trillion in 2024 to $1.31 trillion by 2029, with a 4.7% CAGR. Non-investable wealth is expected to grow at a robust 5.3% CAGR, reflecting the Kingdom's continued economic development and infrastructure investments.

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: "Saudi Arabia's wealth management landscape is experiencing unprecedented transformation. 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 Saudi Arabia findings of BCG’s new proprietary analysis are:

  • Financial wealth dominates at $1.25 trillion in 2024, with projected growth to $1.58 trillion by 2029 (4.8% CAGR)
  • Real assets totalled $2.76 trillion in 2024, expected to grow to $2.94 trillion by 2029 (CAGR: 1.3%)
  • Liabilities increased to $307 billion in 2024, and are projected to reach $422 billion by 2029 (CAGR: 6.6%)
  • Equities & Currency & Deposits are the dominant asset classes in 2024, valued at $339 billion and $300 billion, respectively. They are projected to grow to $398 billion and $414 billion by 2029, with CAGRs of 3.3% and 6.6%.
  • Bonds, though smaller at $9 billion in 2024, show strong growth potential to $13 billion by 2029 (7.2% CAGR)
  • Life Insurance & Pensions are valued at $99 billion in 2024 and projected to grow to $140 billion by 2029 (CAGR: 7.1%).
  • Other assets (e.g., alternative investments) are substantial at $501 billion in 2024, with a projected increase to $611 billion by 2029, reflecting diversified portfolios (CAGR: 4.1%).

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

"Saudi Arabia's wealth ecosystem is at an inflection point. With financial wealth reaching $1.25 trillion and real assets maintaining stability at $2.76 trillion, we're witnessing the maturation of a sophisticated investor base. The 6.6% projected growth in currency and deposits signals increasing liquidity preferences, while the underdeveloped life insurance and pensions sector—growing at 7.1% annually—represents a massive opportunity for financial services providers who can adapt their offerings to meet the evolving needs of Saudi investors," added Bhavya Kumar, Managing Director and Partner at BCG.

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