The Boston Consulting Group (BCG) indicated that private financial wealth in the Middle East region reached $4.2 trillion (tn) in 2019, compared to $2.2tn in 2009 and to $1tn in 1999. As such, it said that the region's private financial wealth grew by a compounded annual growth rate (CAGR) of 8.6% between 1999 and 2009, and by a CAGR of 6.7% between 2009 and 2019. It noted that financial wealth includes cash and deposits, bonds, equities and investment fund shares, as well as life insurance and pensions, among other asset classes. It indicated that the region's private wealth accounted for 1.9% of global private financial wealth in 2019, higher than the share of Eastern Europe & Central Asia (1.6%) and Africa (0.7%), but lower than the share of North America (44.2%), Western Europe (20.7%), Asia excluding Japan (18.6%), Japan (7.8%), Latin America (2.5%), and Oceania (2.1%). In parallel, the BCG projected growth in the Middle East region's financial wealth in the 2019-24 period to vary under three scenarios that assume different global recovery paths from the coronavirus pandemic. It expected the region's private wealth to grow by a CAGR of 5.6% in the 2019-24 period under a ''quick rebound'' scenario, whereby the pandemic does not have a lasting impact on global macroeconomic indicators, such as on GDP growth, consumption, interest rates, inflation, and capital markets. It projected the region's wealth to increase by a CAGR of 4.3% over the forecast horizon under a ''slow recovery'' scenario, and by a CAGR of 3.4% under a ''lasting damage'' scenario, which assumes a more severe economic impact that could cause long-term disruptions in labor and productivity. 
Source: Boston Consulting Group