The war in Lebanon has failed to shake the confidence levels of investors in the region, according to the second CEO Arab Confidence Index (ACI).
Moutamarat, a joint venture between Tatweer and the Saudi Research Group, had teamed up with leading consultants PriceWaterhouseCoopers, creators of the US Index – the USA Conference Board Measure of CEO confidence – to compile the data for the CEO ACI.
One of the surprise packages at the event was Lebanon, where a business confidence level of 62% was almost the same as the previous year’s 64%. The business confidence level in the US, which has been calculated at 44%, is a 21% decline from the previous year.
The survey began a month before the war in Lebanon and continued after the ceasefire on 14 August 2006.
“The survey results show that the war had a limited impact on levels of confidence in the Arab world,” said Khalid Al Malik, CEO, Moutamarat.
“Confidence remains high among the region’s business leaders and this is a good indication not only of the past year but of expectations for the coming 12 months.”
He added: “It is increasingly apparent that what we have with the CEO Arab Confidence Index is a highly accurate tool which year on year can predict future economic performance.”
“The extraordinary optimism among the Arab business community, conveyed through the previous ABIR, is confirmed this year. This is even more remarkable in the context of a challenging year for the Arab world and offers proof of the Index’s ability to measure confidence.”For all the latest construction news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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