Business leaders in Japan and southern Europe are the most worried about the coming year, a survey shows, with Latin America the most promising place to do business in 2011.
The International Business Report, an annual survey of 11,000 owners of private medium and large businesses in 39 countries compiled by Grant Thornton, the accounting group, crowns Chile as the country where businesses are most optimistic, with a 95 per cent of respondents forecasting growth.
Globally, the figure stands at 23 per cent, down 1 per cent on 2010 but well above the -16 per cent recorded at the height of the 2009 financial crisis. Business leaders in India, Brazil, the United Arab Emirates and Germany are among the most bullish, delivering scores of 75 or above.
By contrast, Japan comes in at -71, Spain at -50 and Greece at -44. The US, France and Italy have small positive balances, behind mainland China at 42.
Regionally, Latin America comes top with a 75 per cent balance, buoyed by Brazil, which is forecast to grow at nearly 8 per cent in 2011, according to the International Monetary Fund.
Ed Nusbaum, chief executive of Grant Thornton, says the awarding of the 2014 World Cup and 2016 Olympics to Brazil has helped sentiment across the continent.
“These events will provide a real economic boost for all Latin America, and has undoubtedly translated into a sense of confidence and optimism,” he said.
Source: http://www.ft.com
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