A total of 98% of entrepreneurs in the UAE, one of the highest globally, are confident that their businesses are set to flourish, despite geopolitical uncertainty and global macroeconomic headwinds, according to HSBC’s latest survey. And 95% also expect personal wealth to increase in the next few years.
Their optimism is based on the performance of their investment portfolios, business opportunities, confidence in their own abilities, technological advancements and the diversification of their business, according to the annual HSBC Global Entrepreneurial Wealth Report 2024. The report surveyed more than 1,800 entrepreneurs with investable assets of more than US$2 million or total net worth of over US$20 million, across ten markets including the UAE, US, UK, Hong Kong, India and China,
UAE’s business owners are highly mobile and seven out of 10 (65%) live for part of the year in more than one location, compared to a global average of 53%.