78 per cent of UAE businesses are optimistic about the country's economy in 2011 on balance, as opposed to a global average of 23 per cent, according to a new survey.

This figure places the UAE as the joint fourth most optimistic country among the 39 countries surveyed. Chile and India led the optimism scale with 95 and 93 per cent each, as per the survey released by Grant Thornton UAE, a leading financial and business advisory firm which released its International Business Report, an annual survey of over 11,000 businesses in 39 countries.

The survey also reveals that a balance of 74 per cent of companies in the UAE expect revenue to increase in the next 12 months, while 56 per cent expect to see an increase in profitability and 55 per cent companies expect to see an increase in employment.

“The UAE has well established itself as a business hub of choice for companies aiming to capitalise upon the opportunities presented in the region,” said Hisham Farouk, international practice partner, Grant Thornton UAE.

“A pioneer in infrastructure development in the region, the world-class facilities offered by the UAE continues to encourage businesses to set up regional base here.”

“Comparing with Western economies, the Middle East-based businesses remain more optimistic due to stable income from oil reserves, greater disposable income, growing youth population and increased investment opportunities.”-TradeArabia News Service