China, Indonesia, US ranked as top investment destinations

BALI – A survey by global accounting firm PwC released at the APEC conference here shows that 42% of CEOs in the Asia Pacific are 'very confident' of revenue growth over the next 12 months, while close to 70% intend to increase their investments in the region. The trend towards urbanisation, emergence of the local middle-class, and the need for infrastructure development are the main reasons driving the increase in confidence.

The survey of nearly 500 business leaders shows the 42% 'very confident' of revenue growth in the coming year, up from 36% last year. Longer term, 52% say they are confident of growth over the next three to five years, about the same as in 2012. Asked to identify their 'dark horse' pick -- an Asia Pacific economy that could surprise - Indonesia was the top pick, followed by Myanmar, China, The Philippines, and Vietnam.

 Nearly 90% of Asia Pacific CEOs say their growth strategies are influenced by the growing market of middle-income consumers. And nearly half of investment increases focus on new products, services and distribution - growth areas for serving the growing middle class. Regulatory consistency across the region could unleash additional investment, with one-fifth of CEOs saying that if rules concerning intellectual property, corporate governance and services are harmonised, they are 'highly likely' to invest more. www.pwc.com (ATI).