Dubai: In the backdrop of firm oil prices, healthy tourism sector, investors in the UAE remain cautiously optimistic, according to the First Gulf Bank’s Wealth management index.
FGB announced the first score of its Wealth Sentiment Index, which stands at 1,017.41 for January 2017.
“The score for January 2017 indicates a cautiously optimistic outlook among investors and the business community, in light of continued growth across the UAE’s tourism and manufacturing sectors, and with oil prices expected to rise this year,” Hana Al Rostamani, Head of the Consumer Banking Group at FGB, said in a statement.
The index score is based on insights from a panel of industry thought leaders, who form the FGB Wealth Sentiment Index Council, which is composed of affluent individuals and industry experts (60 per cent).
The research is based on three key areas: optimism within the UAE market, growth prospects in respective industries and personal investment choices. This research is combined with key market indicators, such as GDP, inflation, stock indices and commodity prices, alongside sectorial indicators including real estate, tourism and trade, which is weighted at 40%.
