Business confidence remains high in Asia-Pacific

The National Business

Despite increasing trade tensions between Apec economies, business confidence remains high in the Asia-Pacific region, a report says.
PricewaterhouseCoopers, in its latest survey of 1189 business leaders across the 21 Apec economies, found that 35 per cent were very confident of revenue growth, down slightly from 37 per cent a year ago, while a net 51 per cent plan to increase investments over the next year.
The report said business leaders across Asia-Pacific remained confident that their companies’ revenues would grow over the next 12 months despite increasing trade frictions.

  • A net 51 per cent of business leaders plan to raise investment levels;
  • Vietnam and China top targets for cross-border investment;
  • Majority of business leaders creating more jobs as a result of technology;
  • 65 per cent call on governments to do more to develop science technology engineering and maths (Stem) skills; and
  • Rising concerns about moving data across borders

Business leaders in the US and Thailand were among the most confident, with 57 per cent and 56 per cent of revenue growth while respondents in China and Mexico – two of the largest trading partners with the US – showed below average.
Following the imposition of further tariffs between the US and China in September, a second survey of 100 business leaders showed a majority (69 per cent) expected a positive impact on their revenues from tariffs and only 27 per cent expected a negative impact.