by: Sarah Joson
Wednesday, September 9, 2015 |
According to a research report done by the Management Association of the Philippines (MAP) and Isla Lipana & Co. called “2015 Philippine CEO Survey Report”, top executives in the Philippines are positive about the future with the continuous influx of opportunities - even with the threats brought on by tax burden, overregulation, and shortage of skilled workers.
The report covered the factors in the local business environment - through the eyes of the executives of all scales of business. It found that 73 percent of CEOs who answered the survey are very confident about their business growth in the next 12 months, while 62 percent are anticipating positive results in terms of growth prospects in the next three years.
The report also stated that the CEOs are more confident in the growth of their own than the revenue growth prospects in their respective industries for the near future. In fact, 85 percent of the surveyed CEOs said there are more opportunities today compared to three years ago. On the other hand, 56 percent said there are more threats.
The business leaders identified some of the industries that present the biggest growth opportunities: the untapped local market for banking, the rising demand for basic services such as telecommunications, and the impending launch of an ASEAN Economic Community.
The report said the development of the Philippine economy as a whole will be creating opportunities to businesses, and is proven by the remarkable growth of the country during the past few years. Moreover, it pointed out that businesses are evolving as the trends change over time, and by doing so, growth opportunities are also shifting and making way for innovative tools and products for not only service providers but consumers as well.
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