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Wed 5 Oct 2011 06:15 PM

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Gulf business confidence outpacing global average

Regus Business Confidence Index reveals upbeat opinions of region's business bosses

Gulf business confidence outpacing global average
Business confidence in the Gulf is outpacing the global average (Getty Images)

Gulf businesses are beating the global trend with positive profit and revenue growth and confidence levels to match, according to the Regus Business Confidence Index.

The Gulf region, at 134 points, is 20 points above the global average, the index showed.

More Gulf businesses also reported revenue (55 percent) and profit (45 percent) growth than average, the index added.

Forty-three percent of respondents from the Gulf said they felt the downturn was behind them and recovery was "advancing strongly" in their country.

The index further showed that 68 percent of Gulf businesses were intending to hire more staff, with an emphasis on freelancers and graduates.

Globally, the Regus Business Confidence Index average fell 11 points since April to 114.

Compared to Gulf companies, revenue growth was four percentage points lower while those reporting profit growth was three percentage points lower.

Mark Dixon, CEO of Regus, said: "The report finds that although the global outlook has suffered a clear reverse almost everywhere compared to six months ago, the Gulf beats this trend.

"With growing profits and revenues there is plenty of ground for confidence. In this positive climate of development it is not surprising to find that businesses are actively investing in their most valuable asset: people power."

He added: "In the Gulf, businesses remain cautiously buoyant, in many cases opting for freelance workers to increase headcount and therefore remaining flexible and rapidly scalable."

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