Chief executive officers in Taiwan have more confidence than the global average that their companies will see revenue growth this year, according to a survey released on Thursday by PricewaterhouseCoopers Taiwan.
As part of its 15th annual global CEO survey, the financial services company for the first time conducted a poll of 101 chief executives of Taiwan-listed companies and had interviews with eight of them.
Eighty-eight percent of Taiwanese CEOs said they were very confident regarding revenue growth for their own firms over the next 12 months, which is 1.2 times higher than the average of 40 percent for executives around the world, the survey showed.
The optimism in Taiwan is a result of Taiwanese firms’ long-term investments in China and other emerging markets, and because Taiwanese businesses are capable of providing high-quality products and services, the survey suggested.
However, about 69 percent of Taiwanese CEOs believed the global economy would deteriorate this year, while 18 percent said it would improve and 11 percent believed it would stay the same.
Around the world, 48 percent of CEOs expected the macroeconomy to decline this year, with 24 percent saying it would stay the same and 15 percent saying it would improve.
Asked about the potential impact of free-trade agreements that South Korea signed with the US and Europe, 46 percent of Taiwanese CEOs said the deals would have a “certain impact” on their companies.
About 46 percent of respondents said the deals would have “no impact” on their businesses, with 8 percent saying the impact would be “great.”
The Taiwanese CEOs said the government should quicken its pace in signing more free-trade pacts with other countries and in liberalizing trade to strengthen Taiwan’s international competitiveness, according to the survey.