Asia-Pacific CEOs ‘Upbeat’ on Revenue Growth

SINGAPORE ~ Nine out of 10 corporate chiefs in the Asia-Pacific region are optimistic about revenue growth in the next three years, but worry about the availability of skilled labor and the threat of terrorism, a survey says.

Access to new markets, geographic expansion, greater market penetration for existing products, new product development and mergers and acquisitions are the key business drivers in the next 12 months, the PricewaterhouseCoopers survey said.

It said 91 percent of chief executives in the Asia Pacific are upbeat about revenue growth in the next 12 months. The optimism is sustained over the next three years, with 90 percent saying they remain confident.

On the global level, nearly twice as many global chief executives are confident about revenue growth in the next 12 months compared with five years ago, the survey said.

Gautam Banerjee, chairman of PricewaterhouseCooper’s regional network of firms in Asia, said results of the survey “gives an extra boost to Asia’s position on the world stage.”

Apart from India and China, the other Asian countries seen as having significant growth opportunities include Indonesia, Vietnam, South Korea and Thailand.

However, the chief executives also identified the availability of key skills, over-regulation, low-cost competition and protection of intellectual property rights as among their business-related concerns.

Among the non-business risks, close to two-thirds of the regional executives said they are worried about pandemics, while 75 percent said they are concerned about the scarcity of natural resources.

Sixty-three percent said they worry about terrorism and 58 percent about global warming.

“For CEOs in the Asia-Pacific to make the most of global opportunities for the long term, they must fully understand the realities and risks fuelling their growth, working in diverse cultures, managing dispersed resources and competing with a growing set of global players,” Banerjee said.

To boost business growth, 45 percent of Asia-Pacific chief executives say they have completed or are planning a cross-border acquisition in the next 12 months, with Asia being the choice

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