AsiaPacific chief executives are more confident than they were last year about immediate and longterm economic growth, PricewaterhouseCoopers said in its 13th annual global CEO survey.
Indicating that the worst of the global downturn is past, 82 per cent of AsiaPacific CEOs are confident revenue will rise over the next 12 months, almost identical to the global average of 81 per cent.
This stands in stark contrast to the 2008 survey results, in which only 66 per cent of AsiaPacific CEOs felt that way.
Underpinning the optimism is a belief that Asia will be the centre of economic growth in a new world order. Critical to achieving this status will be investing in talent development and combating climate change.
"The sense of optimism is especially keen in Asia, which will undoubtedly be a centre of growth in the new world order. In order to capitalise on this, AsiaPacific CEOs must remain focused on their longterm prospects despite the global changes and challenges that the downturn has brought," said Dennis Nally, chairman of PricewaterhouseCoopers' international network of firms.
In addition, Asia is expected to be the most popular place for investment in the next 12 months, overtaking Western Europe, due to the high growth rates of emerging Asian markets in the wake of the US and global economic crises.
"The crisis has quickened the change in the economic landscape, with emerging nations taking on more economic power than ever. Our prudent nature has left us in better shape than many other regions. Now, Asia's strategic advantage lies in its people and resources, as well as its ability to deal with crises," said Prasan Chuaphanich, executive chairman at PricewaterhouseCoopers Thailand.
