Asian CEOs bet downturn is over

Asia-Pacific CEOs are more confident than they were last year about immediate and long-term economic growth, PricewaterhouseCoopers (PwC) said in its 13th annual global CEO survey yesterday.

Indicating that the worst of the global downturn is behind them, 82 percent of Asia-Pacific CEOs are confident revenues will rise during the next 12 months, in line with the global average of 81 percent.

This is in stark contrast with the results of the 2008 survey, where only 66 percent of Asia-Pacific CEOs expressed confidence in economic growth. Underpinning this optimism is a belief that Asia will be the center of economic expectation.