HSBC Survey Shows Most Companies Are Optimistic About Growth From 2020

Despite global uncertainty and the rising headwinds the economy has been facing for many quarters, almost all domestic companies are optimistic about their growth next year, an HSBC report.

Companies are buoyant about the prospect of entering new markets, getting high-quality suppliers and plans to invest in technologies that will pave the way for new products and services, said the report released on Tuesday.

The report also claims that nearly all of those polled—as much as 96 percent—are expecting higher growth next year, markedly higher than global and Asian peers (79 percent and 77 percent, respectively).

The report, based on a survey of business leaders from over 9,100 companies across 35 markets globally, gauges business sentiment and growth prospects. Of this over 3,200 businesses are from 12 Asian markets.

Over the next five years, half of the companies surveyed in the country are expecting sales growth of 15 percent or more. This optimism extends to export projections as well, with nearly 98 percent of them with overseas operations expect exports to grow over the next two years, higher than global peers (81 percent).

The report shows 86 percent of those polled feel protectionism is increasing in their main market. However, its impact has been more positive than negative for them as only under 14 percent feel protectionist policies have had a detrimental effect.