Recently CTPartners released the latest report in the Firm’s Trend Talk series: Asia Pacific: The Strategic Business Imperative.  Following is an excerpt.

During a time period that was characterized by upheaval and uncertainty for global leaders, at least one point was clarified by the financial crisis of 2008-2009. For multinational corporations and other businesses around the globe, a solid presence in the Asia Pacific region is now, more than ever, a keystone for business success.

Never has Asia’s strategic position as an economic powerhouse seemed more evident, and the impact of the region’s growth upon global talent strategies continues to become ever more pronounced.

Any tour of the region’s growth inevitably begins with China. During the global recession of 2009, when worldwide GDP declined by 0.8% and advanced economies suffered an average decline of 3.2%, China’s GDP grew by a robust 8.7%. Looking ahead, the International Monetary Fund predicts that China’s GDP growth during 2010 and 2011will exceed that rate.

Many other AsiaPac nations are experiencing a continuing growth trend, along with a related impact upon talent demand, as well. India, which enjoyed 5.6% growth in GDP during 2009, is expected to see GDP expansion of 7.7% in 2010. The more mature Australian economy should see a 2.5% growth in GDP this year. And the developing ASEAN-5 (Indonesia, Malaysia, the Philippines, Thailand and Vietnam) should enjoy 4.7% GDP growth. Importantly, this strong economic performance in AsiaPac will take place while advanced economies, according to IMF predictions, will experience, on average, a more modest 2.1% GDP growth this year.

Given this economic outlook, it is not surprising that many of the world’s corporations are looking east toward Asia Pacific, hoping that the region’s economic engine will help spur worldwide recovery and growth opportunities. New investment and expansion programs in AsiaPac are underway. Meanwhile, as the world looks to Asia, and especially China, for growth, Asian companies are looking out to the world with aspirations and plans to build their own domestic businesses into global competitors.

As multinationals and domestic Asian corporations alike develop their businesses to capitalize on current opportunities, the demand for talent will be significant and far-reaching. Businesses operating in AsiaPac will need sophisticated leaders with the capabilities to guide large-scale company expansions, recognize business opportunities as well as potential pitfalls, and lead businesses to enhance and solidify their position in the global marketplace.

Indeed, given the economic opportunities, it’s hard to overstate the region’s potential long-term demand for senior executive and boardroom talent.  To read the full CTPartners report, visit: http://www.ctnet.com/CTNet/TheFirm/TrendTalks.htm

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