APAC’s Financial Professionals Optimistic on Economic Growth, says Misys
Asia Pacific’s (APAC) financial professionals are positive on the region’s economic growth prospects according to Misys, which attracted more than 200 delegates late last month to its annual Asia Market Forum in Denpasar, Bali.
C-level representatives and heads of businesses in the major financial services organisations attending the event, entitled ‘Define the Future’, were surveyed on key challenges and opportunities.
Opinions were canvassed on topics including last year’s drivers for IT spend, the critical growth factors for the next 12 months and the perceived state of the economy.
Key findings from the survey include:
The economy is returning to health:
Regulation had the biggest impact on IT spend in the past 12 months:
Product innovation, operational efficiency and regulatory compliance are key for next year:
Identification of opportunities to capture growth:
“Asia is back,” said Kishore Mahbubani, dean of the Lee Kuan Yew School of Public Policy at the National University of Singapore and former President of UN Security Council, who attended the forum. “After a brief downturn following the great financial crisis, the Asian economies are bouncing back.
“As new leaders emerge in the three most populous countries, China, India and Indonesia, the reform processes will accelerate. Growth will accelerate too. By 2020, Asia will have the largest middle-class population in the entire world.”