GCC millionaires are more confident in the stability of their local economy, according to Emirates Investment Bank's GCC Wealth Insight Report 2015.
According to an Emirates 24/7 report, around 83% of GCC millionaires (as compared to 64% last year) are more likely to invest in assets closer to home.
In addition, almost 9 out of 10 millionaires in the UAE (89%) are optimistic about the prospects of the country’s economy – the most among their GCC peers.
The report also revealed that the GCC’s rich prefer to invest their wealth in their own businesses (33%) and in real estate (30%); almost the same as last year (34 and 25%, respectively) rather than stocks and bonds.
The report is based on a survey of high net worth individuals with $2 million or more in investable assets from the UAE, Qatar, Kuwait, Saudi Arabia, Oman and Bahrain.