Senior finance executives from major corporations across Australia and Asia have the brightest outlook for economic recovery worldwide.
Senior finance executives report growing optimism about economic recovery but are proceeding with caution, investing in categories that will boost growth such as sales and product development while selectively increasing discretionary spending in areas like marketing and technology.
“We’re seeing a significant shift to a more positive outlook among finance executives as companies have moved from simply surviving to investing for the future,” said Lisa Vehrenkamp, Senior Vice President and General Manager, Global Commercial Card, American Express, Japan, Asia Pacific and Australia.
“Despite the positive outlook, most companies continue to maintain the strong financial discipline that was established during the GFC,” she added.
Asia and Australia lead in optimism and renewed focus on growth Executives worldwide report a more positive economic outlook, indicating that a
sustained recovery is taking hold. Nearly three-quarters of all respondents (71 percent) anticipate economic expansion for their countries over the next 12 months.
The brightest outlook for economic recovery comes from Australasia – 83 percent of executives in Australia, 87 percent from Hong Kong, 82 percent from Singapore and 78 percent from India expect growth in the year ahead.
Additionally, a majority of respondents in Asia/Australia (76 percent) plan to maintain or increase capital spending compared to last year with 78 percent expecting to hire additional staff during 2010.
These findings come from the third annual American Express/CFO Research Global Business & Spending Monitor, a survey of 479 senior finance executives from the United States, Europe, Canada, Mexico, Asia and Australia.