Abu Dhabi: First Abu Dhabi Bank’s (FAB) Wealth Sentiment Index (WSI) reached an all-time high of 1,038.28 in May, up 1.87 per cent from April.
The index combines key UAE market indicators with the bank’s WSI Council’s optimism within the UAE market, growth prospects in particular industries, and personal investment choices.
The council is made up of industry experts and affluent individuals.
Hana Al Rostamani, group head of Personal Banking at First Abu Dhabi Bank (FAB), said: “The Wealth Sentiment Index reached an all-time high in May 2017, primarily driven by the positive economic outlook of Wealth Sentiment Index Council Members, alongside an increase in the number of tourist arrivals in the UAE. The dirham also remained stable against most foreign currencies. Other key factors included the movement of oil prices and rising inflation.”
WSI Council members feel the most important factors affecting the UAE economy are the movement of oil prices, which are expected to increase, and tourism.
Sixty per cent of WSI Council Members plan to invest more and are optimistic about the economy.
The Wealth Sentiment Index, the first-of-its-kind for the UAE and Middle East and North Africa (Mena) region, was launched in partnership with research agency, Ipsos, and insurance provider, Generali, in January 2017, and established to measure the prevailing mood of affluent investors in the UAE market, from a personal and business point of view.
It is an indicator of the overall sentiment of the market, based on existing fundamental and economic factors.
