Wealthy investors and business owners have become more optimistic on the economic outlook. However, they are concerned about domestic politics and the US elections, reveals a survey by UBS.

The study polled over 4,000 wealthy investors and business owners across 14 markets in late June and early July.

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Of those polled, 46% said they were optimistic on the global economy over the next 12 months, compared with 40% three months earlier.

On the other hand, pessimistic respondents dropped to 38% from 45%.

Further, 52% were optimistic about the economy of their own region over the next 12 months while 53% were optimistic on their own region’s stocks over the next six months. The comparable figures three months ago are 46% and 45%, respectively.

Besides, 46% of the respondents across the globe were most worried about the US election, compared to 39% three months ago.

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At the same time, 51% of the respondents were worried about their country’s politics. Three months earlier, the same concern was cited by 44% of the respondents.

In the US, optimism over region’s economic outlook increased more than in any other part of the globe. Forty-one percent of respondents in the market were optimistic on their region’s economic outlook compared with 30% three months ago.

In Latin America, respondents’ optimism over their region’s stock market outlook rose faster than in other part of the world. In this market, 57% showed optimism on the same compared with 47% three months ago.

European respondents outside Switzerland were more optimistic on their region’s economy over the next 12 months than the global average. Fifty-five percent of the respondents in this market were optimistic on the same compared with 52% globally.

Asian investors were the most optimistic globally on their region’s economy over the next 12 months. Investors in this region were also the most optimistic on their own region’s stock market over the next six months.

In this market, 60% were optimistic on both versus global averages of 52% and 53%, respectively.

UBS Global Wealth Management Americas CIO Solita Marcelli said: “The US election will likely present numerous opportunities for investors, as well as some clarity over policy direction in the world’s largest economy.

“Regardless of the result, the eventual impact on financial markets is likely to be close to neutral, even if they experience some interim volatility.”