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Sunday, July 11, 2004

The McKinsey Global Survey of Business Executives , July 2004 (Registration required)

The second McKinsey Global Survey of Business Executives finds that corporate leaders are still confident—especially about hiring, IT spending, China, and India—though they’ve tempered their earlier enthusiasmThe latest McKinsey Quarterly survey of some 5,500 senior corporate leaders around the world shows that executives from a wide range of industries and regions remain broadly positive about the global economy. These executives have curbed their optimism since early this year, but many plan to step up hiring as well as spending on information technology. The most vigorously upbeat sentiment comes from India, where executives voice strong confidence in the new government's ability to advance economic liberalization, and from a rapidly expanding China, which is confident that it will continue to attract massive foreign direct investment.A particular bright spot everywhere turned out to be information technology, where investment apparently is on the rise. Half of all chief information officers (CIOs) and chief technology officers (CTOs) who responded to the survey and nearly 40 percent of all other executives indicate that their companies are planning an increase in IT spending over the next six months. Indeed, nearly a third of both groups of respondents say that their companies intend to raise spending on technology by 11 to 25 percent.
Throughout the article the sentiments about India and china remain strong - North American executives are more optimistic about India and there is almost a global unanimity about the desire to use more of Indian talent.
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