Despite geopolitical uncertainty and severe disruption of trade in the region, United Arab Emirates remains a land of wealth creation and opportunity, according to a new report by Agility Research and Strategy, which looks at the habits, tastes and trends among high net worth individuals.
According to “WealthLens UAE 2026,” UAE is steadily consolidating its status as “a global hub for entrepreneurship, international capital and private wealth.”
Agility said it interviewed 300 individuals between February and March as tensions between the U.S. and Iran were escalating.
The report, aimed at private banking and financial services managers looking to engage with wealthy audiences, said around 80 percent of those surveyed expect business conditions to improve once the conflict comes to an end.
On Wednesday, the U.S. and Iran took a step in that direction, agreeing to a conditional, two-week ceasefire that will see the reopening of the Strait of Hormuz, a key conduit for the world’s oil supply.
Agility said the portfolios of the rich remain equity-led, complemented by domestic real estate and liquidity reserves, while diversification is widening through alternatives and strategic hedges such as gold.
Gold ownership was broad even before the conflict, with 57 percent of UAE high net worth individuals owning jewelry; 55 percent holding gold ETFs or exchange traded funds, and 55 percent in possession of physical bars or coins.
For ultra-high net worth individuals, currency depreciation concerns and adviser recommendations were the top reasons to ramp up their exposure to gold. The report added “the case for gold in UAE wealth portfolios has only strengthened.”
The report said that HNW and UHNW clients tend to move wealth where and when they need, but in a post-conflict scenario, wealth will most likely move back to the UAE as fears subside and stability returns.
The region, which comprises seven emirates on the Arabian Peninsula, was hit hard following the U.S. and Israeli attacks on Tehran last month. Dubai, the second-largest emirate and the most important consumer market in the Middle East, has seen wealthy expats leave in droves and tourism evaporate following counterattacks from Iran.
