An estimated $5 trillion to $9 trillion in cumulative GCC oil revenues generated over the coming decade will be invested within the Middle East and North Africa (Mena), experts say.
In 2002, nearly 85 per cent of the Gulf's wealth was invested abroad in financial instruments mostly linked to the US dollar. However, by 2007, this had fallen to 75 per cent due to the rising investment within the Gulf itself, Gary Long, president and chief operating officer of Investcorp, a provider and manager of alternative investment products, said in a statement.
Long predicted that the oil boom will translate into an investable asset pool in excess of $10 trillion by 2020.
A set of trends will determine how this wealth is spent. Long said investments will increasingly take place onshore in Mena and in Asia.
Other trends include "a shift in allocation to alternative investments and more direct investment strategies; the increased sophistication and institutionalisation of the Gulf, including the growing importance of corporate governance; a booming demand for Islamic products and the rapidly growing importance of sovereign wealth funds", an Investcorp statement said.
In 2002, nearly 85 per cent of the Gulf's wealth was invested abroad in financial instruments mostly linked to the US dollar. However, by 2007, this had fallen to 75 per cent due to the rising investment within the Gulf itself, Gary Long, president and chief operating officer of Investcorp, a provider and manager of alternative investment products, said in a statement.
Long predicted that the oil boom will translate into an investable asset pool in excess of $10 trillion by 2020.
A set of trends will determine how this wealth is spent. Long said investments will increasingly take place onshore in Mena and in Asia.
Other trends include "a shift in allocation to alternative investments and more direct investment strategies; the increased sophistication and institutionalisation of the Gulf, including the growing importance of corporate governance; a booming demand for Islamic products and the rapidly growing importance of sovereign wealth funds", an Investcorp statement said.
