Inflation and ongoing market volatility remain the primary concerns of business leaders of mid-sized corporates and organisations surveyed by Citi Commercial Bank (CCB) in its first ‘Global Industry Insights Report’ released today.
Of approximately 500 survey respondents, globally, a majority ranked inflation and market volatility as the two primary factors challenging the well-being of their business followed by the regulatory environment and trade.
Key findings from the data collected in the survey, on a global basis:
Gunjan Kalra, Asia Pacific head of Citi Commercial Bank, said, “The survey points to Asia as the most favoured region for expansion amongst respondents globally, as well as respondents based in the region itself. From an industry perspective, consumer and tech respondents saw Asia as the most compelling location for expansion. These findings speak to the ongoing momentum in commercial activity across the region despite macro headwinds and the potential for continued growth driven by increasing consumption and favourable demographics. As companies look to capture opportunities in Asia, we are leveraging our global network to support our clients to navigate market volatility and challenges including improving working capital and managing supply chains.”
Tasnim Ghiawadwala, global head of Citi Commercial Bank, commented, “It comes as no surprise that inflation and market volatility are front of mind for companies across industries worldwide. Inflation has touched everything from operations to financial or human resource planning, even inventory and supply chain processes. It is impacting long-term strategic planning and vision making it critical that mid-sized corporates be nimble and flexible with the market. Keeping an eye on cost is vital but remembering that the core proposition – what differentiates your company for your customer – is at the heart of success.”
Re-disseminated by The Asian Banker