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Tuesday, September 28, 2021

Report: More money doesn’t mean more problems for Qatari families

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Qataris trust their children more when it comes to money management and protecting their inheritance than wealthy individuals in Western countries, according to a new Barclays report.

Of the 2,000 high net-worth individuals surveyed in 20 countries, Qataris were also the least likely to say that wealth led to family conflict, according to the report, titled The Transfer of Trust: Wealth and Succession in a Changing World.

Only 12 percent of survey respondents in Qatar said they experienced family tension as a result of wealth, as opposed to the global high of 61 percent in India and a world average of 40 percent.

Qataris were also the only respondents to unanimously say that English is the most important foreign language worth learning. At 69 percent, Chinese edged out English globally.

Other findings include:

  • About half of Qataris surveyed said it was important to follow in the career footsteps of their parents, compared to 20 percent globally;
  • About 55 percent of those surveyed in Qatar said they share their parents’ personal values, compared to 78 percent of those surveyed in Saudi Arabia and 59 percent globally.
  • About 20 percent of Qataris surveyed felt inheritance placed an “unnecessary burden” on the next generation, on par with the UAE and KSA, compared to 29 percent globally.
  • Only 2 percent of those surveyed in Qatar felt it was not necessary to pass their assets along to the next generation, compared to 4 percent globally.

Read the full report here.

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