Millionaires living in the United Arab Emirates now value their health over their wealth according to a new report.
The study spoke to more than 400 individuals in the UAE who had at least $1 million in investable assets, and the results could hardly have been any more conclusive, with 91% of participants stating that they value their health ahead of their fortunes.
This has been reflected in changes taken by many in the country towards their health. The wealthy in the country are now spending more than ever on gym memberships, personal trainers, healthy food and medical insurance.
Working habits have changed too, with hours being reduced in an attempt to create a healthier work/life balance and promote positive mental wellbeing.
Meanwhile 45% of respondents now say that they expect to live until they are 100, potentially changing the Emirates’ demographics forever.
Head of wealth management for the Arabian Gulf at UBS, who compiled the study, Niels Zilkens, said: “Health clearly takes precedence over wealth in the UAE based on our latest data. In fact, nowhere else in the world would investors give up so much of their wealth in exchange for a longer, healthier life.
“Lots of investors in the UAE also want to use their wealth to improve the health of others. We’re seeing a very strong desire to invest in health-related causes that will have a positive social impact. Already, over half of investors are telling us they want to commit more of their wealth to impact investing projects in the future.”
The news will come as a big boost to healthcare providers in the Emirates, who have found themselves struggling to cope with the ever-increasing burden of lifestyle related disease.
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