Home » Breaking News, Customs & Trade » PwC: Finance leaders optimistic emerging markets will propel industry growth

Bucking the current trend for a negative economic outlook, finance leaders showed optimism and said they expect positive growth in their industry over the next 12 to 18 months.

However, about 75 percent of the participants said they were downbeat about the general European economic situation and reported that that they had or were making plans to mitigate the risks presented by the euro crisis.

More than 60 percent of the attendees at PwC’s recent Finance Leaders’ Summit in London said they were confident of their companies’ growth prospects in the next year and a half.

The participants—CFOs and finance leaders from 98 multinational companies—said growth would largely be coming from emerging markets led by China and followed by Brazil, India, the U.S., and Russia.

UK-based financial adviser and tax consultant PwC said almost all of these finance experts were placing increasing importance on understanding local requirements and demand as they increasingly move away from simply exporting products to developing products and services that are modified to meet local market needs.

“In today’s competitive economic landscape and global marketplace, it is no longer enough to export your home-grown products and services,” said Nick Atkin, a partner at PwC. “Understanding the opportunities and risks in the local target market and innovating to develop tailor-made products and services is pivotal to success in the emerging markets.”

 

Photo: Horia Varlan

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