Most wealth to be created in China, European entrepreneurs say

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Societe Generale Private Banking and Forbes Insights have conducted a worldwide survey focusing on trends, challenges and needs of entrepreneurs.

The study reports their answers to questions concerning for instance conditions for economic growth and confidence in their countries’ economies as well as in the legal and social environments in which they operate.

For 53% of the 210 surveyed entrepreneurs, the state of the economy in their countries is very good.

This figure drops to 30% in Europe. European respondents give the most pessimistic views as 36% of them considered the state of the economy in their countries as poor.

Only 39% of European entrepreneurs saw the state of the economy in Europe as very good while 28% considered it as poor.

European are also the most negative about their government with the largest percentage of respondents seeing current government policies as negative for business (67%) and red tape as the top obstacle (39%).

At the opposite, 73% and 63% of the respondents from respectively Asia Pacific and North America are very confident in their countries’ economies. Only 9% in both areas considered them as poor.

Respondents from Asia Pacific are also the most optimistic when being asked on their view on the state of the economy in their region (72% very good) and in the world (61% very good).

North America is less confident on the state of the economy in the world, 39% of local respondents seeing it as “poor”.

Wealth

Asked on where will the most wealth be created in the ten years to come, answers strongly differed among entrepreneurs considering areas.

European respondents placed China first (34%) followed by Western Europe (29%) and United States (26%). Reaching both 25% of responses, Europe as a whole and Russia come fourth.

Respondents from North America replied United States (63%) then China (48%) and Asia as a whole (35%). Only 15% of them considered Europe as a whole as the area where most of the wealth will be created.

Asia Pacific respondents put China at the top (51%), followed by Asia as a whole (36%) and India (33%). They also placed United States (24%) below Europe (25%).

Respondents from Middle East and Africa answered China (50%), India and Middle East (both 39%). Surprisingly, Turkey comes in fourth position (36%) before Europe as a whole and United States (both 18%).

Click here to see the full results of the survey: Forbes-Survey-Creating-Wealth-2015_EN

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