Despite a tough couple of years, the future is looking good according to a recently-released study by UBS Global Wealth Management, which has revealed that investors and business leaders across the world are again feeling optimistic and looking for opportunities.
The survey of 3,500 leaders with at least $1 million in investable assets (for investors) or at least $250,000 in annual revenue and one employee (for owners) looked across 17 countries to find out where the wealthy are putting their money. Surprisingly results revealed that currently many respondents held a large proportion of their assets in cash—but looking ahead they are willing to invest it.
In the UAE in particular, 83% of investors are optimistic about the local economy and 78% are optimistic about the global economy. This bucks the trend with only 51% of investors globally feeling the same way. In fact, the Gulf region as a whole was the most bullish of all regions surveyed.
Over 80% of UAE respondents were in favour of investing in local stocks, and they are among the most likely to have plans to invest more (62%), second only to Latin American investors (66%).
"It is encouraging to see such optimism paired with a strong desire to invest from UAE respondents. The findings confirm our view that the UAE should be considered a growth region for our business,” said Ali Janoudi, Head of Central and Eastern Europe, Middle East and Africa at UBS Global Wealth Management.