Middle East families set for $1T wealth transfer by 2030

Families in the Middle East, in particular across the GCC, are preparing for a monumental transfer of generational wealth estimated at $1 trillion by 2030.

- Issac John

A report released by the DIFC Innovation Hub, in collaboration with Swiss wealth management firm Julius Baer and financial markets infrastructure leader Euroclear, sheds light on how emerging technologies are reshaping legacy planning and wealth transfer processes, particularly in the Gulf region.

This report, titled Navigating the Future of Inheritance, identifies cutting-edge digital technologies - such as artificial intelligence, smart contracts, distributed ledger technology, and tokenisation - as vital tools that can streamline inheritance processes.

These technologies promise to reduce friction, improve transparency, and enhance security in asset transfers. However, despite the potential benefits, a significant gap remains: only 24 per cent of HNWIs currently have a comprehensive estate plan in place. Moreover, 53 per cent of families surveyed expressed that the complexities of gathering and allocating assets across larger families make the planning process daunting and time-consuming.