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Confidence amongst business leaders in the United Arab Emirates strengthened in the final quarter, according to the YPO Global Pulse sentiment index. CEOs in the UAE are amongst the most optimistic in the world about current economic conditions and the future prospects for their organisations. This is in line with the wider Middle East and North Africa region, which recorded the highest regional reading in the world at 67.1.
In the UAE specifically, CEO sentiment climbed 3.1 points to 70.6, above the regional composite and on a par with Saudi Arabia (71.8).
“Growing trade with China and increasing economic diversification in UAE help counterbalance the economic impact of weakening oil prices,” said Manish Patel, managing director of Geap Group and executive member of YPO’s Emirates Chapter.
Globally, a rising tide of optimism lifted business confidence in all regions except Africa and Australasia, where CEO sentiment edged lower from already-lofty levels. Notably, the European Union surged to a new high at 62.2; the United States broke out of its 15-quarter confidence rut, jumping 3 points to 63.5; and Asia’s index rose for the second consecutive quarter, to 63.6. The global index stands at 63.0.
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