Thailand No. 2 in World for Planned Hirings as Business Sentiment Up
Business optimism in Asia-Pacific grew to 48% from 35% over the past three months, with the figure rising to 42% from 40% in Thailand.
The report, a quarterly survey of more than 3,000 businesses in 44 countries, also found those intending to increase hiring in Asia-Pacific countries rose to 43% from 38%, with 72% of Thai businesses surveyed planning to increase hiring (up from 68%).
Asia-Pacific businesses planning to increase wages at or above inflation rates increased to 76% from 60%, with the number in Thailand rising to 52% from 36%.
Some 42% of Asia-Pacific businesses plan to increase product prices, up from 37%, but in Thailand the number fell to 44% from 54%.
Ian Pascoe, Grant Thornton’s managing partner, said these figures reflect the energy and dynamism of businesses in Asean.
But he warned companies to continue emphasising productivity and careful succession planning.
Globally, the report indicates businesses in mature economies are betting on future growth, finally releasing their cash reserves and beginning to invest again.
This comes as global business optimism, spurred on by improving orders, is up to its highest level since early 2011.
The change in mood is welcome evidence that businesses are deciding now is the time to lay the foundations for growth.
Business leader investment plans, particularly in mature economies, have leaped sharply over the past three months.
In the EU, 44% of business leaders now plan to increase investment in plants and machinery in the coming year, up from 26% three months ago.
Businesses in the Group of Seven countries plan to lift investment to 34% from 27% three months ago, while North America is up to 33% from 28% and troubled economies Portugal, Italy, Greece and Spain are at 42%, up from 27%.