The number of ultra-wealthy individuals in Morocco is experiencing significant growth, coinciding with changes in various sectors related to wealth, particularly in the luxury real estate market in Marrakech. This sector has witnessed a decline in prices by 4% over the past five years, as indicated by the PIRI 100 index. Despite this downturn, a report from specialized institutions forecasts a remarkable rise in the number of individuals with fortunes exceeding $30 million in the Kingdom. The count is projected to increase from 305 individuals in 2021 to 432 by 2026, reflecting a growth rate of 41.6%. Furthermore, it is anticipated that this number could reach approximately 550 by the year 2031.
Regionally, this growth positions Morocco among markets that are continuously expanding their base of wealthy individuals, even as growth rates vary across different countries in the region. For instance, while Egypt has seen a slight increase in its wealthy population from 802 to 822 individuals over five years, Israel has experienced a dramatic surge of 71.4%, with the number of wealthy individuals soaring from 3,186 to 5,462. The report also projects that the entire African continent will witness a 14.9% growth in the number of ultra-wealthy individuals by 2031, despite its share of the global total remaining limited at around 1%.
On a global scale, wealth concentration continues to be confined to specific regions. North America is expected to hold 37% of the total number of ultra-wealthy individuals by 2026, with projections suggesting an increase to 43% by 2031, surpassing both the Asia-Pacific region and Europe. Additionally, other countries are experiencing rapid growth in their wealthy populations, with Argentina witnessing a 34% increase and Australia a 32.5% rise, reflecting the accelerated accumulation of wealth in several global economies in recent years.
As reported by almarrakchia.net.
