Wednesday, May 29, 2024
English English French Spanish Italian Korean Japanese Russian Hindi Chinese (Simplified)

Inflation and ongoing market volatility remain the primary concerns of business leaders of mid-sized corporates and organizations surveyed by Citi Commercial Bank (CCB) in its first ‘Global Industry Insights Report’ released today.

Of approximately 500 survey respondents, globally, a majority ranked inflation and market volatility as the two primary factors challenging the well-being of their business followed by the regulatory environment and trade.

Key findings from the data collected in the survey, on a global basis:

    • As inflation represents the most threatening factor to the respondents’ businesses, 72% of those surveyed agreed that managing costs or keeping costs down is the biggest challenge to business success they face today.
    • Notably, 52% of respondents stated that they believed supply chain issues have improved over the last 12 months; 36% of respondents believe those issues have remained unchanged and only 13% stated they believed that they have worsened.
    • 55% of respondents say they are on track to be carbon neutral by 2050, with healthcare companies leading the way. However, only 37% of respondents said that net zero and/or ESG in general is a primary focus for their company.
    • 52% of those surveyed say that their organization is considering international expansion in the next year, with 27% stating they are looking to expand to Asia Pacific markets.
    • 27% of respondents say that they are either somewhat dissatisfied or extremely dissatisfied with the progress they have made with their financial goals in 2023.

Gunjan Kalra, Asia Pacific head of Citi Commercial Bank, said, “The survey points to Asia as the most favored region for expansion amongst respondents globally, as well as respondents based in the region itself. From an industry perspective, consumer and tech respondents saw Asia as the most compelling location for expansion. These findings speak to the ongoing momentum in commercial activity across the region despite macro headwinds and the potential for continued growth driven by increasing consumption and favorable demographics. As companies look to capture opportunities in Asia, we are leveraging our global network to support our clients to navigate market volatility and challenges including improving working capital and managing supply chains.”

Tasnim Ghiawadwala, global head of Citi Commercial Bank, commented, “It comes as no surprise that inflation and market volatility are front of mind for companies across industries worldwide. Inflation has touched everything from operations to financial or human resource planning, even inventory and supply chain processes. It is impacting long-term strategic planning and vision making it critical that mid-sized corporates be nimble and flexible with the market. Keeping an eye on cost is vital but remembering that the core proposition – what differentiates your company from your customer – is at the heart of success.”

Subscribe

* indicates required

The Enterprise is an online business news portal that offers extensive reportage of corporate, economic, financial, market, and technology news from around the world. Visit to explore daily national, international & business news, track market movements, and read succinct coverage of significant events. The Enterprise is also your reach vehicle to connect with, and read about senior business executives.

Address: 150th Ct NE, Redmond, WA 98052-4166

©2024 The Enterprise – All Right Reserved.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept