A report by PricewaterhouseCoopers (PwC) released during the ongoing 2014 APEC CEO Summit shows confidence in Asia Pacific economies among CEOs in the region is getting stronger.
Dennis Nally, Global Chairman of PwC International Ltd. introduced PwC's report, New Vision for Asia Pacific: Connectivity Creating New Platforms for Growth, at a dialogue during the summit.
He said that PwC had surveyed 635 business leaders in 39 economies about prospects for business in the Asia-Pacific region since June.
According to the report, 46 percent of executives in the Asia-Pacific region say they are "very confident" of growth in the next 12 months, up 10 percentage points from 2012 and 4 percentage points from 2013, despite a slowdown in China, the region's driving force.
The survey found that 67 percent of executives plan to increase investment in the Asia-Pacific region over the next 12 months. Their plans cover each of the 21 APEC member economies, with China, the United States, Indonesia, China's Hong Kong and Singapore ranking as the most popular destinations for investment.
"Asia Pacific today stands at a turning point as advancing technologies move beyond national boundaries and create new demands and even new industries," said Nally. "CEOs see the need to be bold in breaking down the barriers to growth. They want to address intellectual property issues and encourage regulatory harmony in the region."
The survey also found that data-driven changes are having an impact in the region, with 57 percent of executives more confident of their ability to respond to changes in the marketplace. Half say they are more skillful at forecasting demand.