UAE investors show increased confidence with 21% investing in new businesses

Survey reveals UAE investors’ optimism surpasses global peers, with significant inheritance expectations

UAE investors are demonstrating a higher level of confidence in their financial futures compared to their global counterparts, with 21% engaging in new business ventures, according to recent research by HSBC conducted by Ipsos. This figure surpasses the global average of 17%.

The survey, which included 9,993 affluent and high-net-worth investors across 10 markets, with 703 participants from the UAE, revealed that 87% of UAE respondents are confident in achieving their short-term financial goals, while 81% are optimistic about meeting their long-term targets.

The findings were unveiled during HSBC’s inaugural UAE Wealth Investment Summit in Dubai, highlighting the country’s favorable environment for wealth growth. Sami Abouzahr, HSBC’s Head of International Wealth and Premier Banking, Middle East & UAE, stated, “The UAE has built an environment where people and their wealth can thrive.”

UAE investors also expressed satisfaction with their living standards, with 83% content with their quality of life, compared to 75% globally. Among them, 26% rated their quality of life a perfect 10, the highest proportion across surveyed markets.

Retirement plans are evolving, with 81% of affluent UAE respondents planning to transition gradually from employment or adopt flexible working arrangements. A significant 35% intend to pursue second careers, the highest among the surveyed markets.

The survey also highlighted expectations of substantial wealth transfers, with half of UAE investors anticipating significant inheritances, averaging around Dh2 million ($545,000), double the global median. Nearly a third of those planning to leave a legacy want their heirs to use the money for business ventures.

Craig Worobec, HSBC’s Head of Wealth and Premier Solutions, Middle East & UAE, emphasized the importance of intergenerational wealth planning, noting that 82% of UAE investors have a clear strategy for supporting their families across generations.

Source: https://gulfnews.com/business/markets/uae-investors-more-confident-about-wealth-with-21-backing-new-businesses-hsbc-1.500719967