Report highlights:

• 84% believe doing international business is good based on 6-month global economic forecast (-5% from Q3 2023)
• 77% will continue/increase international activities, most eyeing Asia-Pacific and South America (-4% from Q3 2023)
• Top technology priorities are AI, cybersecurity, process automation to enhance global services and efficiencies
• Overall outlook on global business at 0.521, but down 8.1% from Q3 2023 amidst economic, geopolitical tensions

WASHINGTON D.C. – June 18, 2024 – Factum Global, an international consulting firm specializing in helping organizations expand and operate across global markets, today released the results of their latest Factum Global Business Sentiment Survey assessing the outlook for global business and technology.

While the overall positive outlook on global business has dipped since Q3 2023, the survey found that 77.2% of executives still plan to continue or increase their international expansion over the next six months, leaning heavily on emerging technologies like AI, cybersecurity, and process automation.

The survey found 84.2% of executives believe doing international business is good for their organization based on their global economic forecast for the next six months, down slightly from Q3 2023. However, the overall positive outlook on global business scored just 0.521, an 8.1% decrease from Q3 2023 amidst volatility.

“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. “They’re turning to innovations like AI, enhanced cybersecurity, and automation to optimize operations, roll out new services, and meet evolving customer needs across borders.”

Many respondents specifically highlighted plans to increase activities in high-growth markets across Asia like Japan, Korea, Singapore, and Vietnam, as well as Eastern Europe, Brazil, Mexico, and Sub-Saharan African nations such as South Africa and Kenya. Cost and time-saving opportunities, and leveraging international conferences and events aligned with strategic objectives were noted as key priorities.

Despite persistent challenges, “the data signals that international business remains central to corporate growth strategies in 2024 and beyond, but with a sharpened focus on unlocking new efficiencies through technology,” added Gomez.

The Factum Global Business Sentiment Survey, conducted in collaboration with Global Chamber®, TechFides, and ASIS International from March 6 to May 10, 2024, was answered anonymously by nearly 150 business executives (C-Suite to Director level). Respondents represented a wide range of industries (financial, information technology, manufacturing, professional services, and nonprofits), company sizes, and functional specialties. 39% of respondents were North America-based and 61% were headquartered in more than 30 countries across Asia-Pacific (37.6%), Europe (15.3%), South America (4.7%), and Sub-Saharan Africa (3.5%).