It is true that to become a millionaire, you have to be willing to take risks. It is also true that quite a few expatriates in the UAE are edgy about the idea.
According to a latest research that looked into attitudes of investors in the UAE it has been found that the largest number of risk takers are non-resident Indians (NRIs). Residents from the UK (in particular) are extra careful with investing their incomes.
Another study done by Old Mutual International (financial solutions provider) and Quilter Cheviot (investment management firm) found that investor attitudes can vary depending on nationality.
The researchers also found out that there are at least 33 per cent of NRIs that consider themselves risk takers, 21 per cent from Europe and 20 per cent from UK and 16 per cent from North America.
“UK expats are typically more cautious. They tend to invest for the long term and will place a high value on the services provided to them from their broker. NRIs, on the other hand, seem more comfortable with taking investment risks, and may seek out shorter term opportunities” Brendan Dolan (Regional director for Middle East and Africa at Old Mutual International).
The research also showed that when compared with other expatriates, NRIs are more engaged in investments. Figure has it that about 9 in 10 Indians (which reflect a 92%) review their investment portfolio both quarterly and monthly. This figure is compared to Europeans which account for 79%.