Amidst a global economic slowdown, the Compass Index reveals business confidence in the Asia Pacific (APAC) region is mainly optimistic, with Australians shown as the most confident. However, to sustain growth, businesses are urged to be agile and innovative in their way of work.
Asian serviced offices, virtual offices and meeting rooms provider Compass Offices global clients provided input for the survey behind the Compass Index, which measures business trends in nine countries in Asia Pacific. The respondents are from a cross-section of startups, small and medium businesses as well as multinational companies.
With China’s economic slowdown, the International Monetary Fund (IMF) has forecast that global growth will be 3.4% this year with a weakened outlook for the next six months. Meanwhile, the Asian Development Bank forecasts that the Asian region is to post 5.7% annual GDP growth, dish from 5.9% last year.
The Compass Index shows however that 51% of Australians feel strongly confident about their business growth this year. This is the most positive outlook compared to 43% in Singapore and 30% in Hong Kong. Japan posted the lowest score in the region at 15%.
“Our Index shows that businesses are optimistic about their growth this year. However, to stay on top of their game, they will need to reconsider where their investment is and reinvent new ways of working, to be more adaptable to economic conditions,” said Andrew Chung, CEO of Compass Offices.
The employment growth rate is slated to slow this year. In Japan, under 20% of surveyed clients plan to hire this year. However the Index shows that 61%, 56% and 44% of businesses in Singapore, Australia and Hong Kong respectively plan to hire more personnel. The findings from the survey reveal that sales, marketing and IT skills are the most in-demand this year to support their business growth.
Compass Offices is adding more centres in the Philippines and in Europe to the existing network to accommodate demand.“We work with companies of different sizes and shapes and from various industries. We understand that growing business takes more than passion, especially to stay on top of competition. This is why, at Compass Offices, we always strive to partner with our clients to provide them with solutions that not only suit their business needs but also provide flexibility to support their business growth,” said Chung.
Interested?
View the complete infographic (PDF)
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| Source: Compass Index infographic. Australia is particular optimistic on business growth. |
Asian serviced offices, virtual offices and meeting rooms provider Compass Offices global clients provided input for the survey behind the Compass Index, which measures business trends in nine countries in Asia Pacific. The respondents are from a cross-section of startups, small and medium businesses as well as multinational companies.
With China’s economic slowdown, the International Monetary Fund (IMF) has forecast that global growth will be 3.4% this year with a weakened outlook for the next six months. Meanwhile, the Asian Development Bank forecasts that the Asian region is to post 5.7% annual GDP growth, dish from 5.9% last year.
The Compass Index shows however that 51% of Australians feel strongly confident about their business growth this year. This is the most positive outlook compared to 43% in Singapore and 30% in Hong Kong. Japan posted the lowest score in the region at 15%.
“Our Index shows that businesses are optimistic about their growth this year. However, to stay on top of their game, they will need to reconsider where their investment is and reinvent new ways of working, to be more adaptable to economic conditions,” said Andrew Chung, CEO of Compass Offices.
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| Source: Compass Index infographic. Six in 10 of Singapore respondents said they would hire this year. |
The employment growth rate is slated to slow this year. In Japan, under 20% of surveyed clients plan to hire this year. However the Index shows that 61%, 56% and 44% of businesses in Singapore, Australia and Hong Kong respectively plan to hire more personnel. The findings from the survey reveal that sales, marketing and IT skills are the most in-demand this year to support their business growth.
Compass Offices is adding more centres in the Philippines and in Europe to the existing network to accommodate demand.“We work with companies of different sizes and shapes and from various industries. We understand that growing business takes more than passion, especially to stay on top of competition. This is why, at Compass Offices, we always strive to partner with our clients to provide them with solutions that not only suit their business needs but also provide flexibility to support their business growth,” said Chung.
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| Source: Compass Index infographic. Hong Kong, Australia and Singapore are hungry for salespeople. |
Interested?
View the complete infographic (PDF)
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