Asia – Majority of business leaders cite no impact from Trump win yet, Harvey Nash reports

By memberservices@staffingindustry.com (Elizabeth Rennie, CCWP)

A majority of Asia Pacific business leaders polled, 71%, reported Donald Trump’s presidential victory in the US hasn’t yet affected their business, according to a survey by recruitment firm Harvey Nash. However, 29% said the presidency will have a long-term negative impact on business profits, 19% are assessing their trade deals with the US and 7% have cut budgets in the wake of the election.

“Trump’s victory came as a surprise to many business leaders in the region and came at the end of a year which saw increased levels of uncertainty across global markets,” said Nick Marsh, managing director of Harvey Nash Executive Search APAC.

“Those in the region must now look at how to steady the ship and put in place plans to deal with these anticipated changes,” Marsh said. “The good news is that so far it’s business as usual for the majority of APAC business and that those in the region stand to benefit from a wave of returning local talent.”

The survey found 35% believe Asian nationals returning in greater numbers from the US. In addition, 36% of Asia Pacific business leaders believe there will now be an increased focus on local leadership, and 24% believe there will be a slowdown in talent migration.

Harvey Nash’s survey polled 141 Asia Pacific business leaders. Trump is scheduled to be inaugurated on Friday.

Source:: Staffing Industry Analysts Daily Newsfeed