Philippine business leaders are Southeast Asia’s most optimistic and the world’s third most bullish.
In its International Business Report, Grant Thornton said at least eight out of every 10 business executives in the Philippines are upbeat about the country’s economic prospects in the next 12 months.
Audit firm Punongbayan & Araullo conducted the survey in the country for Grant Thornton.
Filipino executives were behind their Irish and Indian counterparts, optimism among whom reached 92 percent and 89 percent, respectively, of survey respondents.
Filipinos however were the most optimistic in Southeast Asia, with Indonesians coming the closest at 68 percent, followed by Thais, 36 percent; and Singaporeans, 4 percent. Malaysians bucked the trend, with pessimists outnumbering optimists.
Filipino executives also are in the mood for hiring, with the percentage of respondents expecting an increase in employment at 56 percent, up 14 percentage points from last year.
Despite the improved hiring outlook, more than a third of respondents are hard put looking for qualified workers, albeit down 5 percentage points from last year.
“Although there’s a slight improvement in our skilled workers compared to last year, the gap between businesses’ hiring appetite and the depth of the local talent pool is still alarming,” Marivic Españo, chair and chief executive of P&A, said.
"The country needs to cultivate the kind of workforce it needs to stay competitive and prevent our most highly skilled professionals from emigrating for job opportunities abroad,” she added.
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