U.S. tops list of markets with positive sales outlook this year: survey

[Photo by MK DB]

Korean and Japanese business leaders picked the U.S. and Southeast Asia as promising markets for sales growth this year, while Chinese business leaders are pinning their expectations on the domestic market amid an ongoing conflict between the U.S. and China, according to a global survey.

The survey recently conducted by Korea’s Maeil Business Newspaper, Japan’s Nikkei, China’s Global Times asked 271 chief executive officers - 96 in Korea, 74 in Japan and 101 in China - about economy and diplomacy, geopolitical risk and pandemic issues.

In the survey, Korean CEOs said they will reduce capital investment more in China this year than other regions and security cooperation among South Korea, the U.S., and Japan is important in a response to North Korean provocations.

When asked about the markets where sales of goods and services are likely to grow this year, the U.S. topped the list with 40 votes in Korea, followed by Southeast Asia with 33 votes. In Japan, 37 CEOs chose the U.S. as their most promising market this year and 27 picked Southeast Asia. In contrast, 46 CEOs in China chose their home market as the most promising region.

Regarding countries where sales are expected to decline this year, the U.S. was ranked first with 22 votes in China, while Russia came first with 10 votes in Japan. In Korea, 37 CEOs chose China and 27 Russia as markets with poor sales outlook.