Index score increases from 1038.28 in May, to 1054.52 in June 2017
First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest financial institutions, has announced the latest score of its Wealth Sentiment Index (WSI), which has increased from 1038.28 in May, to 1054.52 in June 2017.
The Wealth Sentiment Index increased by 1.56% this month, due to the outlook of the WSI Council and a drop in inflation. An increased inflow of tourists to the UAE, particularly from China, is another key factor, whilst a fall in oil prices and the Purchasing Manager’s Index has had a negative impact. Nevertheless, business optimism remains high and companies are positive about the UAE economy.
The Wealth Sentiment Index, the first-of-its-kind for the UAE and 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.
The index score is based on insights from a panel of industry thought leaders, who form the Wealth Sentiment Index Council, which is composed of affluent individuals and industry experts (60%). 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%.