DUBAI: While the majority of global investors are pessimistic that life will return to normal within the next six months, optimism for the economic outlook over the next year has grown, according to a global survey by Swiss investment bank UBS.
The latest survey polled around 4,000 investors and business owners across 14 global markets in late December and January.
Sixty percent of respondents said they have a positive outlook for the global economy over the next year, compared to 55 percent three months ago.
In the UAE sentiment is even higher, with 85 percent saying they are upbeat about their economic prospects for the year.
Sixty-three percent of global respondents said they believe life will not return to normal in the next six months.
But sentiment is split in the UAE, with 51 percent of respondents saying life will return to normal by July 2021, and the remaining 49 percent estimating it will not happen until the second half of the year.
Sixty-three percent of UAE respondents said COVID-19 is their major concern in 2021, followed by climate change (56 percent) and fear of a market downturn (55 percent).
On a global scale, 72 percent are optimistic that the rollout of COVID-19 vaccines will benefit stock markets, while 62 percent said the arrival of Joe Biden in the White House will have a positive impact.
Iqbal Khan, co-president of UBS Global Wealth Management, said sustainability is still one of the main factors for global investors.
“Three years ago, we had around $1 billion invested in our 100 percent sustainable portfolio for private clients. Today that figure is over $18 billion,” he added.
“We believe sustainable investing offers significant value for clients and for the world, which is why in September we became the first major global financial institution to make it our preferred solution for private clients investing globally.”