Sectors & markets

ANZ report shows positive outlooks for Australian businesses investing in Asia

According to new research from ANZ, Australian businesses active in Asia generate about a third of their overall revenue from the region, an increase from 25 per cent in 2016.

The fifth annual ANZ Opportunity Asia Report, which surveys 1,000 Australian business decision makers across a variety of industries, also found that about half of the businesses surveyed were able to realize a positive return from their Asian operations within three years. 

ANZ Managing Director of Commercial Banking, Isaac Rankin said:

“Several key trends have emerged from the survey since 2014, which indicate that there continue to be opportunities for growth in Asia" 

“The appetite for quality Australian products and services in Asia continues to grow. This is creating more opportunities for organisations already doing business in Asia, with 64 per cent of businesses surveyed saying they expect to expand their operations in the next three years. Doing business in Asia is not always easy, but the rewards are there for businesses who remain dedicated to the market.” 

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The report also shows that China remains the largest single market for Australian companies looking to export. However, other North Asian markets and members of the Association of Southeast Asian Nations (ASEAN) are growing as trading partners.  

The Opportunity Asia Report is designed to capture sentiments around international growth to identify best practice, share insights and highlight opportunities while providing guidance to navigate challenges that may be holding some businesses back.

Source: ANZ media release