A recent Investor Watch survey by UPS Group, the global wealth management firm, showed that 75% of wealthy investors worldwide concluded that life after the Corona (Covid-19) pandemic would never return to The way it was before. This is the same feeling that prevails in the United Arab Emirates, where 81% of investors expressed that fear will remain for a long time.
According to the survey of more than 3,750 investors from 15 markets around the world, investors have already begun planning to adjust their lifestyle after the end of the epidemic. Seven out of 10 investors will henceforth reduce travel times and transfers to the office.
Half of the investors intend to move to live close to their families, and 46% of them could leave the cities to reside in less populated areas, and 88% said that staying healthy is their top priority.
67% of investors stated that the epidemic affected their way of thinking about their financial affairs, as 56% expressed concern that they did not save enough money in the event of another pandemic, and 58% expressed their concern about having to work longer periods to compensate for the retirement losses.
While 60% expressed concern about their families bearing financial burdens in the event of illness, and 54% expressed concern about leaving enough money for their children.
Overall, 83% of them needed more guidance than their financial advisors during this period about their business. In the United Arab Emirates, this number rises to 87%.
“The Corona (Covid-19) pandemic has affected the world’s view of the world in a sustainable way. It has also made them more interested in financing and providing their needs for liquidity, sustainability and legacy. The epidemic should be a catalyst for investors It forces them to seek appropriate advice and make their financial position more resilient and resilient. ”
Ali Janoudi, Regional Director for Central and Eastern Europe, Middle East and Africa at UBS Global Wealth Management said: “Despite the harsh results of this epidemic, there is a bright side, as 79% of young investors in the UAE told us that they were financially affected by Covid-19 while he said 85% of them are interested in sustainable investment and they want their wealth to have an effective impact in this reality. We are ready to let them in this investment decision and we think it is the right way forward. ”
For his part, Nils Zellkins, head of the Gulf region at UBS Global Wealth Management, said: “This survey shows that what is happening on a global scale we are seeing in the United Arab Emirates where local investors are reconsidering the way they are investing holistically. They are looking for evidence and we are here To help them cope with these difficult times. ”
From a generational perspective, young investors have stated that the epidemic has been more impacting on them financially, as it has affected their way of thinking about their financial affairs. What is most worrisome for these young people is working for long periods in order to compensate for the losses, not being able to save enough money, and losing their jobs in light of the current conditions.
However, these young people showed more discomfort than their financial situation. Because of the Corona pandemic (Covid-19), their financial support to family and friends increased by almost a third, while 69% expressed interest in sustainable investment and 60% in charitable causes.
From a regional perspective, Latin American investors are more likely to see that the world continues to change after the outbreak of the Corona pandemic (Covid-19), and investors in the United States follow in this view.
United States of America
As the United States continues to work to contain the epidemic, 82% of investors there believe that their old lifestyle will change forever, which is more than the global average of 75%. However, 22% of them stated that the epidemic had affected them in a very tangible way, which is less than the global average of 25%.
Latin America investors appear to be most affected by the epidemic. Nevertheless, they also likely see a bright side in market volatility. As 84% of investors in Latin America see these fluctuations as opportunities, compared to the global average of 79%.
The impact of the epidemic on European investors has been mostly in line with the global average. The exception was to direct their money to make an effective impact. 42% of European youth have increased their financial support to family and friends, compared to 34% of young people in the world.
The Corona pandemic (Covid-19) affected Swiss investors only slightly. Only 56% of them stated that their way of life could always change. Compared to the global average of 81%, only 68% of investors there indicated that pandemic related concerns remain. Just 11% of them indicated that their financial resources were significantly affected by the Corona pandemic.
Investors in this region are less likely, compared to the average, to expect lasting changes due to the virus outbreak and persistent pandemic-related concerns in the long run. While 89% of these investors, compared to the global average of 81%, stated that they need more guidance than usual from their financial advisors during a period of uncertainty about the future of the market.
Follow the economic statement via Google News