Survey finds Europe firms looking more to SE Asia
European investors are increasing their exposure to Southeast Asia, reaffirming the region’s position as a bright spot in the global economy, as companies look to other markets for growth amid lingering concerns in China, according to the EU-ASEAN Business Sentiment Survey. The prospect of European firms based in the Philippines is consistent with the regional outlook, with 59% of respondents projecting an expansion in their ASEAN operations, 55% seeing growth of their work force and 74% forecasting a bigger share of profits from Southeast Asia over 2016. Results of a poll of 204 European companies across 10 ASEAN countries — including 55 from the Philippines — from March to June saw 74% of respondents project higher income in their Southeast Asian operations this year and almost two-thirds plan to beef up their operations (60%) and headcount to support their expansion (62%).
