ABU DHABI -- 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 per cent 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 market research agency Ipsos, and insurance provider Generali, in January 2017. It was 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 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 per cent.
Source: Emirates News Agency