Business leaders remain bullish on Asia Pacific

Business confidence on Asia Pacific remains high with strong potential for revenue growth. A  survey conducted by PwC during the period June 23-Aug. 21 among 800 business leaders with operations in at least one of the 21 member economies of the Asia-Pacific Economic Cooperation (APEC) group showed that these leaders are bullish of revenue growth derived from the region.

Survey results showed that 51% of the CEOs and industry leaders are "very confident" of business growth in the region with  China gathering the highest confidence vote with 14.1%; followed by Philippines with 13.8%; Japan, 8%; the United States, 7.3%; and Peru, 6.9%.

During the press briefing held in Manila to coincide with the APEC Summit scheduled to be held in the Philippines from November 18-19, Alexander B. Cabrera, PwC Philippines chairman and senior partner said  the Philippines was the only economy where CEO-respondents felt there was a “bright future as far as revenue is concerned”.  

The past six months have also been very challenging for all members of the APEC. Despite these challenges, countries in the Asia Pacific region will still lead in terms of investment inflows. Respondents said they would increase investments over the next 12 months in these countries: China, 53%; Indonesia, Vietnam and the United States, 52%;  Singapore, 46%; and Philippines, 45%.  Mr. Cabrera noted that investments have become more dispersed in the region. He said funds have continued to flow into China, US and Indonesia, and also to  Vietnam, the Philippines and Thailand.