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According to a study by the Swiss bank UBS, the majority of UAE investors are optimistic about their national economy, as well as local and regional actions, according to which the UAE is the most bullish compared to all the other countries and regions studied in the world.
According to the latest quarterly report of the bank Feeling of investors According to a study by its global wealth management team, 84% of wealthy individuals and business owners in the UAE have a positive attitude to the state of their economy and 81 are optimistic about regional actions. The survey, which surveyed more than 3,800 wealthy investors and entrepreneurs in 17 countries, hardly changed for UAE investors compared to the previous quarter's study.
Cedric Lizin, director of UBS Wealth Management Dubai, said the study clearly showed that "investors in the UAE are among the most optimistic in the world with respect to their local economy."
"However, we believe that it is now important to translate this optimism into real market participation, as opposed to cash badets," he said.
The International Monetary Fund has lowered its global growth forecast for 2019 for the fourth time since last October, noting that trade tensions and persisting Brexit uncertainties could hinder a "shaky" recovery next year.
Global economic growth, already at its lowest since the 2008 financial crisis, is expected to slow to 3.2% in 2019, a drop of 0.1 points from the 3.2% forecast. Established by the IMF last April, under the effect of a decline in inflation and a more modest growth of countries around the world indicate weaker economic activity.
The UBS study bears witness to this: investors around the world expressed much lower levels of optimism than their economies and stock markets during the last quarter, at 59% and 55%, respectively. %, respectively.
The trade war between the United States and China and local politics were the main concerns of 46% of those polled around the world. Cybersecurity was the third most common concern among 43% of respondents.
In the UAE, cybersecurity and rising health care costs were among the top concerns of 48% of respondents.
While UAE investors were optimistic about the economy and regional stock markets, they remain reluctant to spend too much of their money on the market, holding an average of 21% of their badets in cash.
Cash badets in other parts of the world are, however, larger. In Asia, investors hold 32% of their badets in cash, compared to 30% in Switzerland and 28% in Latin America.
Updated: August 4, 2019 4:14 pm
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