Global wealth manager UBS reveals top concern of UAE investors

UAE investors remain optimistic about region's economic outlook

  
Dubai high rise buildings. Image courtesy Dubai Media Office Twitter handle.

Dubai high rise buildings. Image courtesy Dubai Media Office Twitter handle.

Many investors across the globe have chosen to stay cautious and alert as the world grapples with the coronavirus pandemic. COVID-19 remains the top concern for 67 percent of UAE investors, a recent study by UBS showed.

According to the new Investor Sentiment study by global wealth manager UBS, 58 percent of UAE investors are concerned about the rising healthcare costs.

“Naturally, UAE investors remain concerned about the risks of COVID-19,” Ali Janoudi, Head of Wealth Management Middle East and Africa at UBS said.

“However, we are also seeing a slight uptick in economic optimism, with longer-term investment themes such as security and safety, digital transformation and smart mobility attracting particular interest from UAE’s wealthy investors,” Janoudi added.

Seventy-three percent of respondents from the UAE said they were optimistic about the global economy over the next 12 months, while 14 percent said they were pessimistic.

Seventy-seven percent are optimistic about their own region’s economy over the next 12 months, whereas 80 percent said they were optimistic about their own region’s economy for the next 10 years.

Regarding the US presidential election later this year, 85 percent of UAE investors said they plan to adjust their portfolios regardless of who wins the election.

For the Investor Sentiment study, UBS surveyed 2,867 investors and 1,151 business owners across 14 markets, from June 23 to July 13, 2020.

(Reporting by Gerard Aoun; editing by Seban Scaria)

( gerard.aoun@refinitiv.com )

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