Young Emiratis spending on luxury items and building up debt

Young Emiratis and residents of the UAE are beginning to buy more and more luxury products that they can't afford, only to fit into a richer social circle. Most of this persons are men.
Mayfair Wealth Management lead a study that explains this kinf of behaviour. Few women invest their cash in property or equities and that gives them access to more cash. Moreover, the estimated wealth of Khaleeji women was $40 billion in 2009.

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