CEOs worldwide identify Asia as key market for growth: IBM study

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Last updated at: (Beijing Time) Thursday, March 18, 2004

CEOs worldwide identify Asia as key market for growth: IBM study

In a global study unveiled here Wednesday by IBM Business Consulting Services, Asia, and China in particular, was cited as the key new market for revenue growth.

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In a global study unveiled here Wednesday by IBM Business Consulting Services, Asia, and China in particular, was cited as the key new market for revenue growth.

Focused exclusively on CEOs, "Your Turn": The Global CEO Study 2004 consulted 456 CEOs worldwide, including 269 from the Asia-Pacific Region, regarding their agenda for the next two to three years.

The Asia-Pacific Region is comprised of a collection of differentiated markets including engines for growth, hub markets and mature markets. China and India, the growth engines of the Asia-Pacific Region, not only serve as a source of opportunity but also the means of supplying it, said Steven Davidson, who leads IBM Business Consulting Services in Hong Kong.

Global organizations are focused on the growth opportunities afforded by the rapidly expanding domestic markets of India and China. These rapidly growing manufacturing and services centers are producing products and services that are also being used to meet demand elsewhere in the world, said Davidson.

"Hong Kong based CEOs find themselves in the spotlight as the global agenda turns to growth, with Asia-Pacific, and China in particular, expected to deliver the major share of that growth," said Davidson.

Organizations operating in hub markets such as Hong Kong and Singapore, where CEOs usually have an Asia-Pacific mandate, are taking a comprehensive supply and demand approach to capitalizing on the opportunities presented by China, Davidson said.

The study also reveals that CEOs in the Asia-Pacific Region were the most focused on building revenue, and are prioritizing the activities that will grow their top-line, such as: expanding product portfolios, developing new products and services and entering new markets.

"Revenue growth is the key strategic objective for CEOs in Asia,as it is elsewhere in the world," said Grace Chopard, Asia PacificLeader, Strategy & Change, IBM Business Consulting Services.

"After a long and protracted downturn, Asia has emerged leaner,stronger and ready to capitalize on the growth opportunity presented in this region," Chopard added.

Source:Xinhua

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