APEC CEO 2016: Thriving in a slow-growth world
23 November 2016
The results of our annual APEC CEO Survey, which is conducted each year by r2i, have been released by Bob Moritz, PwC Network Chairman, at the APEC CEO Summit in Peru. They show that the past four years have been uneasy for business and policy leaders alike in the 21-member Asia-Pacific Economic Cooperation (APEC) economies. Growth of the region has settled at a pace of under 3% a year. That’s a change. APEC economies thrived on the trade winds when global trade used to reliably outpace global GDP growth. Yet this year, for the first time in 15 years, growth in global trade volume could lag growth in global GDP, according to the World Trade Organization. The questions on the minds of APEC CEOs are how to thrive in a slow-growth world and how to be competitive in the new economy.
CEOs share their insights on trends affecting business growth in the region: China, the Internet of Things, consumer demand, infrastructure development and regulatory reforms. To help answer these questions, PwC’s r2i surveyed 1,154 APEC business leaders from May–July 2016. Over half of all respondents are in organisations with over US$1 billion in annual revenue.
The APEC CEO Survey puts r2i at the centre of a brand defining piece of thought leadership for the sixth year running. The results were presented at the APEC summit to high profile leaders including President Xi Jinping of China, Prime Minister Shinzo Abe of Japan, President Vladimir Putin of Russia and President Barack Obama of the United States. Peru even announced a 3 day Public Holiday in honour of the importance of the summit!
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