Massive Change Ahead in Middle East: Women Control $700 Billion
Wednesday, December 22, 2010
Wealthy female investors in the Middle East are increasingly focused on the environmental and social returns of their investments–not just financial returns. According to Gulf News, women control 22 percent of the region’s assets, amounting to $700 billion–an amount expected to grow by 8% in the next four years–and $70 billion of that is their own personal wealth.
“You’re seeing women being much more confident about their wealth. They are not flaunting it, but it’s not just about buying designer bags and watches,” said Shimi Shah, Chairman of Carousel Solutions, in the Gulf News report. “They want to do good, they are a lot more savvy about the region, and they’re talking about corporate social responsibility–that’s a very powerful message coming out now.”
