News

Covid-19 tops UAE investor concerns

Wealthy investors in the UAE are displaying a rising optimism about the region’s economic outlook, but their chief concern remains the Covid-19 pandemic. This was the main finding of the UBS Investor Sentiment study which canvassed more than 4,000 investors with at least $1 million in investable assets between June 23 and July 13. The Swiss wealth manager’s study found that 67% of respondents listed the pandemic as their chief concern while 58% were worried about rising healthcare costs. However, 73% said they were optimistic about the global economy over the next 12 months and 77% were optimistic about their own region for the next year. The optimism extended further to 80% when UAE investors were asked about the economic prospects for the region over the next ten years. “Naturally, UAE investors remain concerned about the risks of Covid-19,” says Ali Janoudi, head of wealth management for the Middle East and Africa at UBS. “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.” © 2020 funds global mena

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