78% of Taiwan's CEOs confident about country's economic future

Survey of CEOs by KPMG Taiwan found high optimism for domestic outlook, with slightly more conservative view towards global economy

Kaohsiung's 85 Sky Tower on a sunny day (Photo by ...

Kaohsiung's 85 Sky Tower on a sunny day (Photo by ...

TAIPEI (Taiwan News) – According to a survey among CEOs in Taiwan released by KPMG Taiwan (安侯建業), 78 percent of CEOs surveyed are optimistic and confident about Taiwan’s domestic economic growth and prosperity looking ahead over the next three years.

However, when asked about prospects for the global economy, Taiwanese CEOs were a little more conservative in their expectations, with a still significant 68 percent reporting confidence in the global economy.

Despite uncertainty towards global economic development, the positive outlook of CEOs towards Taiwan’s economic growth is even more remarkable when compared to the same survey published last year, which reported only a 38 percent rate of confidence in the domestic economy's three year outlook.

Liberty Times reports that the U.S.-China trade war has had a significant impact on business confidence in the local market. As things were just gearing up in the tariff battle last year, many CEOs took a hesitant approach towards business ventures and prospective deals or investments.

However, after numerous Taiwanese businesses have announced new investments at home and abroad, which has reinvigorating Taiwan’s manufacturing capacity, and with the Chinese economy slowing in a stalled trade war with the U.S., Taiwan’s fortunes are looking good for the near term according to the KPMG survey of Taiwan’s CEOs.