, Singapore

Here's why Asian CEOs are tagged as most confident in the world

3 out of 4 project higher sales in the next 12 months.

The YPO Global Pulse survey has unveiled that Asian leaders are the most confident in the world, with a reported upswing in positive economic outlook of 2.9 points to 62.9 points.

According to the survey, there is a surge in the number of Asian business leaders who expect to increase their sales, from 59% in the previous quarter to 72%.

The survey also noted that in terms of hiring expectations, 38% of them have their eyes on expanding their workforce.

Meanwhile, a significant number of business leaders, pegged at 49%, foresees an increase in fixed investments over the next 12 months.

Although the positive outlook for Asia was driven primarily by India, other countries could be seen in good shape as well, as boost in business confidence ricocheted within ASEAN countries.

Confidence in Southeast Asian region leaped 3.6 points to 60.5, thanks to the weakening of the dollar and stabilising slowdown in the Chinese economy.

The confidence score has been at its highest level since the first quarter of 2015.

While it trails the wider regional score for Asia, it is in firmly optimistic territory, the survey said.

Both Malaysia and Hong Kong saw significant increases in their business confidence scores, with an upsurge of 8.4 and 8.6 to land at 59.8 and 54.5, respectively. 

In Singapore, business confidence nudged a 0.4 point higher to 54.9.

"Business leaders across Asia will be looking to take advantage of favorable economic conditions the rest of this year, while keeping a close eye on key economic indicators around the world," YPO founder and CEO Shiyin Cai said in a press statement.

Meanwhile, India has cemented its position as the fastest growing economy in the world, with its business confidence climbing 1.6 points to 68.0. 

On the other hand, China remained on the positive territory even with its drawback, a dip of 1.8 points in its confidence score landing at 62.2.

"Despite ongoing concerns about the short-term stability of the global economy, confidence within Asia's two most important economies, China and India, remains strong," Cai underscored.
 

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