China top global market for growth opportunities say technology, media and telephone executives
London – Technology, media and telephone industry executives believe that China offers the best growth opportunities in the world over the next two to three years, according to global research released by Allen & Overy. The report examines global business confidence, the shifting balance of economic power, plans for future growth and barriers to market entry.
· 57% of technology, media and telephone business executives are very confident and a further 36% are reasonably confident about their business prospects over the next 24 months and this is being driven by consumer confidence and demand
· 69% of technology, media and telephone business executives believe Asia Pacific’s economic influence is rising followed by South America (45%)
· China (47%) and India (33%) were identified as the best markets for growth opportunities within the sector
· However, there are still some barriers to overcome with China being cited as one of the top three hardest markets to enter (23%) alongside Russia (19%) and United States (13%). The reason? The barriers created by the countries regulatory environment.
· Allen & Overy conducted in-depth research among 1,000 business leaders from large international companies across 19 countries. The Opportunities and challenges report is the first report in the 50 Degrees East series looking at how Asia’s rapid growth and development is expected to influence business decision making in the future.
To view a copy of the full report or to find out more about the research methodology, please visit www.allenovery.com/50degreeseast.
1. Allen & Overy is an international legal practice with approximately 4,750 staff, including some 480 partners, working in 38 offices worldwide.