Grant Thornton’s quarterly business survey of 2,500 businesses in 36 economies, the International Business Report (IBR), provides insight into the economic and commercial issues affecting medium to large businesses, both privately-held and public.
The most recent survey, conducted in the third quarter of 2017, found a weakened global profit outlook amid rising wage pressure and a lack of skilled workers. Like its global counterparts, the Gulf Cooperative Council (GCC) countries of Bahrain, Kuwait, Oman, Qatar, Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE), are also experiencing a skills shortage as the region embarks on ambitious programmes toward significantly more diversified economies.
So, where does global business optimism stand? We asked this of business leaders and their answers reveal that while the proportion of businesses who expect profits to increase over the coming 12 months has fallen, optimism remains high. In the GCC, confidence levels are recovering and economic growth is set to increase.