Factum Global Survey Reveals Continued Optimism for International Business

24th June 2024

Factum Global, an international consulting firm specialising in global market expansion, has released its latest Factum Global Business Sentiment Survey.

The findings, reflecting the views of nearly 150 business executives, indicate a persistent, albeit slightly diminished, optimism towards international business amidst current economic and geopolitical challenges.

The survey shows that 84.2% of executives believe engaging in international business remains beneficial for their organisations, although this figure has decreased by 5% since Q3 2023. Despite the overall positive outlook on global business scoring 0.521—a drop of 8.1% from the previous quarter—77.2% of leaders still plan to continue or increase their international activities, with a keen focus on the Asia-Pacific and South American regions.

“While economic and geopolitical headwinds have dampened sentiment somewhat, the majority of leaders still view an international footprint as critical,” said Francisco Gomez, Founder & CEO of Factum Global. He continued: “They’re turning to innovations like AI, enhanced cybersecurity, and automation to optimise operations, roll out new services, and meet evolving customer needs across borders.”

Gomez emphasised the need for agility within organisations, particularly associations. “Associations need to understand the risk of not taking action. It is very important for associations to build more nimble organisations with governance practices that enable them to make decisions faster and empower their leaders to act swiftly,” he stated. “The results of our survey apply across the board. We observed no significant variation between the association sector and other respondents; the need for swift action and adaptability is universal.”

The survey identifies Asia-Pacific countries such as Japan, Korea, Singapore, and Vietnam, along with Eastern Europe, Brazil, Mexico, and Sub-Saharan African nations including South Africa and Kenya, as key targets for expansion.

The Factum Global Business Sentiment Survey was conducted in collaboration with Global Chamber®, TechFides, and ASIS International from March 6 to May 10, 2024.

Respondents hailed from diverse industries, including financial, information technology, manufacturing, professional services, and nonprofits, with a global representation spanning North America, Asia-Pacific, Europe, South America, and Sub-Saharan Africa.

Despite the complexities of the current environment, the data signals that international business remains a cornerstone of corporate growth strategies, reinforced by a sharpened focus on unlocking new efficiencies through technology.

You can download the full report here.

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