2026年亚太地区企业高管晴雨表展望报告 Asia Pacific C

AsiaPacificC-suitebarometer

Outlook2026

forvs

mazars

“WhatweareseeingacrossAsiaPacificisreinvention.

Thebusinessesthatare

bestpositionedrightnowaretheonesthatstoppedwaitingforstabilityand

startedbuildingaround

uncertainty.Theyare

reconfiguringsupply

chains,doublingdownontechnologyandfinding

newmarketsfasterthananyoneexpected.That’sadeliberatestrategyandit’sworking.”

Contents

04Foreword

06Revenuesslide,butconfidenceclimbs

08Adaptingtocompetitionandtariffs

09What,stoppingtheC-suiteagenda?

10

BettingbigonAI

13Growthstrategiesturninward

15AIgrowsworkforce

16Sustainabilityreportingoutpacesrealresilience

17Surveydemographics

Foreword

Inayearwhendisruptionstoglobaltradehavetestedbusinessesateveryturn,AsiaPacificorganisationsleanintotwowell-honedtraits:nimblenessandresilience.

C-suiteleadersin2026arenavigatingapersistentlyuncertainglobaleconomy.SincetheUSgovernmentannounced“LiberationDay”inApril2025,it

hasimplementedsweepingbaselinetariffsand

reciprocaldutiesonglobalgoodsflows.These

tariffscouldimpactoverUS$3trillioninannualU.S.importsintheirfirstyear,accordingtoestimates

fromthe

BudgetLabatYale

.

Tradingpartnershaverespondedinkind.The

EuropeanUnion(EU)imposedretaliatorytariffsonU.S.goods.SeveralAsianeconomies–including

China–introducedcountermeasuresrangingfromexportcontrolsoncriticalmineralstotargeted

dutiesonAmericanproducts.Theresultisan

escalatingcycleoftradebarriersandchangingregulatoryrequirementsthatchallengeeventhemostexperiencedglobaloperators.

Againstthisbackdrop,supplychainshavebeen

upended,investmentdecisionsreconsideredand

businessesworldwidecompelledtorethinktheir

operationalstrategies.Intheearlymonthsof2026,thisuncertaintyhasbeencompoundedbytheUS-

IsraeliwarwithIran–aconflictwithfar-reaching

implicationsforglobalenergymarkets,traderoutesandinvestorconfidence.ItjoinsalengtheninglistofconflictsinUkraine,Africaandelsewhere.

InAsiaPacific(APAC),export-drivengrowthmodelsmeanthatbusinessesaredeeplyembeddedin

globalsupplychains.Thetradeturmoilsparkedby

U.S.tariffcampaignshastranslatedintoheightenedeconomicuncertaintyandregulatoryhurdles–twofactorsthatoursurveyrevealsarenowamongthetopconcernsforregionalexecutives.Geopoliticaluncertainty,anothertop-rankedconcernamong

respondents,lookssettoheightentensionsfurtherthisyear.

Yet,asourannualC-suitebarometershows,APACleadersarenotmerelyweatheringthestorm–theyareactivelychartingnewcoursesthroughit.Our

findingspointtoaregiondefinedbyoperationalresilienceandanabilitytopivotquicklyintroubledtimes.

NowhereisthismoreevidentthaninChina.In

December2025,thecountry’sglobalexportssurgedtonearly

US$358billion

–itsstrongestgrowthsinceSeptember–contributingtoarecordtradesurplusofalmost

US$1.2trillion

fortheyear.

Oursurveyofover3,000C-suiteexecutivesglobally,including260fromtheAPACregion,revealsa

leadershipcohortthatremainsconfidentintheir

abilitytotacklethechallengesahead.Theyarereadytoadaptasdisruptionanduncertaintybecomethenorm.

TwoinfiveAPACexecutivesexpressstrong

confidenceintheircapacitytomanagekeytrends–afigurethathasrisen11pointssincelastyear.The

surgeinconfidenceisnotcomplacency;itreflects

leaderswhofeelincreasinglyequippedtoact,havinginvestedheavilyinbuildingtheoperationalagility

andstrategicflexibilityneededtorespondtowhatcomesnext.

Tariffs,inparticular,haveforcedareckoningacrosstheregion.Amajorityofrespondentshavetakendecisiveactioninresponsetotradedisruptions,

whetherbydevelopingnewefficienciestomanagecosts,launchingnewofferingstotargetemergingmarkets,oradaptingexpansionplanstoconsideralternativedestinations.Three-quartersofAPACexecutivessurveyedreportconfidenceintheir

organisation’sabilitytomanagetariff-drivencosts,andmanyhavediversifiedtheirresourcesand

consolidatedservicestomitigaterisk.

Meanwhile,theprioritiesofregionalexecutives

reflectaforward-lookingorientation.Internationalexpansionisatopagendaitem,withmorethan

three-quartersofrespondentspursuingplansto

enternewmarkets,predominantlywithintheregionitself.

China,AustraliaandHongKongleadaspreferreddestinationsforexpansion,signallingarenewedfocusonintra-regionalgrowthandcollaboration.

APACC-suitebarometer:outlook2026ForvisMazars4

APACC-suitebarometer:outlook2026ForvisMazars5

Foreword

Astheglobaltradeenvironmentgrowsmore

unpredictable,leadersareseekingtoreduce

exposuretodistantregulatoryregimesandbuild

closertieswithmarketstheyknowwell.FrameworksliketheRegionalComprehensiveEconomic

Partnership(RCEP)areacceleratingthisshift,activelymakingiteasierforAsiancompaniestotradeandinvestwithintheirownbackyard.

Technologytransformationcontinuestounderpin

thesemoves.ThreeinfiveAPACbusinessessurveyedhaveadedicatedtechnologytransformation

strategy,withartificialintelligence(AI)attheforefrontofinvestmentpriorities.

Leadersrecognisethatoperationaloptimisation,

betterdecision-makingandcompetitive

advantagesalldependontheirabilitytoharness

newtechnologieseffectively.TheintegrationofAIisreshapingworkforcesacrosstheregion,creatingnewrolesevenasitautomatesothers.Executives

surveyedareincreasinglyconfidentintheirabilitytorealisereturnsontheseinvestments.

Astheyearunfolds,themessagefromAPAC’s

C-suiteisguardedconfidence.Theheadwindsareintensifying:growthhasmoderated,regulatory

complexityhasincreased,geopoliticalriskshaveescalatedandcompetitioncontinuestointensify.

Buttheresponsefromregionalleadershasbeenequallydeliberate:acommitmenttoadaptation,investmentandresiliencethatpositionstheir

organisationstonavigateinvolatileworld.

AtForvisMazars,weareprivilegedtoworkwith

businessesacrossAPACastheynavigatethis

dynamicenvironment.Ourpresenceinmorethan

15countriesandterritoriesintheregion,supportedbyover9,300professionalsinmorethan50offices,enablesustooffertheglobalperspectiveandlocalinsightthatclientsneedtoseizeopportunities

andmanagerisk.Wearecommittedtohelping

organisationsbuildsustainable,long-termvalueforalltheirstakeholders.

Thedetailedfindingsofthisyear’ssurveyare

presentedinthefollowingreport.Wehopetheseinsightswillserveasavaluableresourceforleadersseekingtobenchmarktheirstrategies,anticipate

emergingtrendsandmakeinformeddecisionsabouttheroadahead.

“AsiaPacifichasalways

hadtomovefast.The

region’sbusinessesare

builtonagility–onreadingthemarket,adjusting

quicklyandstayingclosetocustomers.ThatDNA

isprovinginvaluablerightnow.”

RickChan

CountryLeader,ForvisMazarsinSingaporeMemberoftheGroupGoverningBoard

APACC-suitebarometer:outlook2026ForvisMazars6

Revenuesslide,butconfidenceclimbs

APACleadersstaybullishasrevenuedipsanduncertaintyrises.

Twosurveyresponsesappeartostandatodds.APACrespondents’confidenceintheirgrowthoutlookgrows

significantly,from30%in2025to41%in2026.Yettheshareexpectingrevenuetoincreasefallssharplyto67%

–downfrom80%in2025and90%in2024,and15pointsbelowthisyear’sglobalaverage.ThisdisconnectsuggeststhatAPACexecutivesmayhaverecalibratedtheirexpectationsamidthedownturn.

Confidenceindex*

*Average%“veryconfident”acrossallrelevanttrends.

41%

37%

34%

30%

2023202420252026

Revenueexpectations

Percentofrespondents

Tracking:revenueexpectations

PercentofAPACrespondents

GlobalAPAC

Decreaseof10%+Increaseof10%+

Decreaseof1%to9%Increaseof1%to9%

82

67

41

34

28

14

7

7

12

33

41

16

DecreaseIncreaseDecreaseIncrease

Positive

Negative

90

80

7

11

2024

2025

67

28

2026

Question:Pleaseestimateyourorganisation’sexpectedchangeinannualrevenueforfinancialyear2025,comparedto2024.

Revenuesslide,butconfidenceclimbs

Economicuncertaintyremainstheprimaryconcern,yet83%ofAPACrespondentsstillanticipategrowthahead.Afteryearsofnavigatingpandemicdisruptions,supplychainupheavalsandescalatinggeopoliticaltensions,highvolatilityhasbecomethenewnormalratherthananexceptionalcircumstance.

Nextyear’sgrowthoutlookTracking:nextyear’sgrowthoutlook

PercentofrespondentsPercentofAPACrespondents

GlobalAPAC

Verynegative

Verypositive

NegativePositive

SlightlynegativeSlightlypositive

Negative

Positive

9283

17

18

38

36

29

37

12

4

NegativePositiveNegativePositive

91

5

2024

84

9

2025

83

12

2026

Question:Howdoyouassessyourcompany’soutlookforgrowthin2026?

APACC-suitebarometer:outlook2026ForvisMazars7

APACC-suitebarometer:outlook2026ForvisMazars8

Adaptingtocompetitionandtariffs

Theregion’sbiggestchallengesalltracebacktothesamesource:tariffs.

TariffssitattheheartofAPAC’schallengesthisyear.Asthefactoryoftheworld,theregionhasabsorbed

theglobalbruntoftradetensions–manifestingasrisingcosts,supplychaindisturbancesanddeepening

geopoliticaluncertainty.Tariffshiftscantriggersupplychainreconfigurations,whichdriveupoperationalcostsandinturn,fueleconomicinstability.

APACleadershavefeltthepressure.Economicuncertainty(48%)andpoliticaltension(33%)toprespondents’concerns,whiletariff-drivencostsrankasthemainbarriertointernationalexpansion.Still,three-quartersareconfidenttheycanmanagethroughbydevelopingnewefficiencies,adaptingexpansionplansanddiversifyingresourcestonavigateongoingdisruptions.

Topfivefactorsexpectedtoholdbackgrowthforcompaniesin2026

Percentofrespondents

EconomicuncertaintyIncreasedcompetition

Nationalorinternationaltension/instabilityEnergypricesand/orshortagesNewregulations

GlobalAPAC

32

29

26

26

42

32

33

27

24

48

BiggestchallengesAPACorganisationsfacedsettingupoperationsinnewcountries

Percentofrespondents

Global

39%Managingcompliancewithlocallaws,regulatoryrequirementsandtaxes

35%Costsand/oroperationalissuesduetotradeandtariffchanges

33%Adapting/upscalingtechnologyanddigitalinfrastructure

31%Findingandsecuringlocalworkforce

31%Nationalorinternationalpoliticaltension/instability

APAC

42%Costsand/oroperationalissuesduetotradeandtariffchanges

39%Managingcompliancewithlocallaws,regulatoryrequirementsandtaxes

33%Localising/diversifyingproductsorservicesfornewmarkets

32%Generalsetup,e.g.registrationandlicensing,securingrealestate

30%Adapting/upscalingtechnologyanddigitalinfrastructure

APACC-suitebarometer:outlook2026ForvisMazars9

What’stoppingtheC-suiteagenda?

Amideconomicheadwinds,APACleadersareleaningharderintotechnology.

APACexecutiverespondentsareacutelyawareofwhatliesahead.Inflationandcost-of-livingpressuresrankasthemostsignificanttrendsshapingtheiroutlookthisyear,followedbyincreasedcompetition.Newregulatoryrequirementshavealsomoveduptheagenda,risingsevenpointsfromlastyear.

Takentogether,anunprecedentedconfluenceofhigh-impactchallengesisnowcrowdingthestrategicagendaofAPACexecutives,alldemandingtheirattentionanddirection.

ExternaltrendsexpectedtohavethebiggestimpactonAPACorganisationsoverthenext12months

Percentofrespondents

GlobalAPAC

Economictrends(includinginflation/higherCoL)Increasingcompetition

NeworhigherregulatoryrequirementsGeopoliticalinstability/socialunrestArtificialintelligence

Emergenceofnewtechnologies(otherthanAI)

28

31

27

26

40

29

32

29

29

28

28

41

Inanenvironmentwhereexternalpressuresshownosignsofeasing,efficiencygainshavebecomeessential.APACleadersarerespondingaccordingly:transformingcompanytechnologyremainstop-of-mindfor

respondents(37%),consistentwithlastyear’sfindingsandalignedwithglobalpeers.Withinthatagenda,AIhasemergedasthekeylever;executivesarealreadydeployingitacrossarangeoffunctionstodrive

measurableimpact.

Enteringanewproductorservicecategoryfollowsclosely(26%),alongsiderestructuringandcostreduction(25%).Theseprioritiesreflecttheimperativesofdefendingmarginsathomewhileseekinggrowthabroad.

TopstrategicprioritiesforAPACbusinessesoverthenext3-5years

Percentofrespondents

TransformingcompanyIT/TechnologyEnteringanewproductorservicecategoryRestructuringandcostreduction

Adaptingbusinessmodel/strategyduetocompetition,tariffsReviewingsupplychains,operations,procurementprocessesAneworrevisedsustainabilitystrategy

GlobalAPAC

39

37

26

22

25

24

21

24

23

242221

APACC-suitebarometer:outlook2026ForvisMazars10

BettingbigonAI

Whenmarginstighten,AIbecomesthego-toleverforefficiencyandresilience.

APACexecutivesarebettingonAItonavigateanincreasinglychallengingenvironmentandtheregion’suniqueadvantagesmayexplainwhytheyaredoingsoefficiently.

Nearlyhalf(47%)ofAPACleadersrankAIastheirtoptechnologyinvestmentpriority,drivenbyitspotentialtooptimiseoperations,sharpendecision-makingandsecurecompetitiveadvantages.MorethanhalfsayAIisalreadyhavingamajorimpactontheirorganisation–upninepointsfrom2025–andtwo-thirdshaverestructuredteamstoimplementit.

Biggestpotentialimpactonthesuccessof

technologytransformationincompaniesinAPAC

Percentofrespondents

GlobalAPAC

ArtificialIntelligence

Data,securityandinfrastructure Humanandtech/machineintegration Operationalagility,efficiency,productivity Customerexperience,transparency,trustValuemanagement,investmentmeasurement

50

4231

363128

4740

32

31

31

30

ImpactofAIonorganisation

Percentofrespondents

Minorimpact

Noimpactatall

MajorimpactDon’tknow

APAC

53407+9vs.2025*

Global

Global

58375

RestructuringteamstoimplementAI

Percentofrespondents

Majorrestructuring

Plannedbutnotimplemented

MinorrestructuringNo

APAC

25421518

3347128

Question:WhatimpactisAIcurrentlyhavingonyourorganisation?

*Note:questionwordingchangedfromfutureimpactin2026:willhavetopresent:ishaving

Question:twoyears

HaveyourestructuredteamsinyourbusinessinthelasttoimplementAI?

Notably,APACorganisationsarespendinglessonAIthantheirglobalcounterparts.Just11%ofrespondents

currentlyinvestmorethanafifthoftheirbudgetonAI,comparedto15%globally;and41%spendlessthan10%,versus35%globally.Thegap,however,maynotsignalunderinvestment.Rather,itcouldreflectaregionthatisculturallymoreadvancedinAIimplementation,leveragingitslong-standingexpertiseininnovativetechnologytoachievemorewithless.

APACC-suirebarometer:outlook2026ForvisMazars11

BettingbigonAI

ProportionofbudgetinvestedinAI

Percentofrespondents

Question:Whatpercentageofyourcompany’sbudgetisinvestedinAI?

Theregion’sdeeppoolofAItalent–anchoredbyChina’srapidadvancesandAsia’sestablishedIToutsourcinghubs–meanscompaniescandeployAImorecost-effectively.Governmentsacrosstheregionarealso

prioritisingAIascentraltofutureeconomicgrowth,creatinganalignmentbetweenpublicpolicyandcorporatestrategythatamplifiestheimpactofprivateinvestment.

Executivesseethehighestreturnoninvestment(ROI)inAIandmachinelearningandtheyaredeployingthesetoolsbroadly–primarilyforforecastingandplanning.

Technology/digitaltransformationinvestmentscompaniesinAPACaremostconfidentindeliveringbestpossiblereturns

Percentofrespondents

GlobalAPAC

48

45

34

33

39

32

32

32

ArtificialIntelligenceandmachinelearningData,connectivity,analyticsandwarehousing CybersecurityandriskmanagementAutomation

27

31

19

22

Projectmanagement,knowledge/collab.toolsERPandexpensemanagement

KeyareasofAIadoptioninAPACorganisations

Percentofrespondents

GlobalAPAC

66

65

Forcastingandplanning

63

61

61

62

65

60

60

60

64

Knowledgeacquisition,bankingandretrievalClientservices,recommendations,relationships InternalefficienciesandautomationCybersecurity

63

Monitoringandbenchmarking

BettingbigonAI

YettheappetiteforAIisnotwithoutitscomplications.SevenintenC-suiteleadersinAPACreportsomeethicalconcernsaboutAI,consistentwith2024and2025.Whatisstriking,however,isthatthescaleoftheseconcernshasdonelittletostoporrestricttheappetiteforAIuseinbusiness.

Theintensityofconcernisalsodecreasingyearonyear–notbecausetheissueshavebeenresolved,but

becauseleadersareincreasinglyconfidentthatthebenefitsofadaptingoutweightherisksofholdingback.Inanenvironmentwherethepaceoftechnologicaldevelopmentcontinuestooutrunthepaceofregulation,APACexecutivesarechoosingtomoveforwardratherthanwaitforcertainty.

EthicalconcernswithAI

PercentofrespondentswhoseorganisationusessomeAI

Minorconcern

Notmuchofaconcern

Majorconcern口Don’tknow

234

Noconcernatall

APAC

2644

2310

Global

2640

ofAI?

Question:Howbigofaconcernarepotentialethicalandsocialconcerns

MajorconcernMinorconcern

727270

41

31

34

36

44

28

APAC,2024APAC,2025APAC,2026

APACC-suirebarometer:outlook2026ForvisMazars12

APACC-suitebarometer:outlook2026ForvisMazars13

Growthstrategiesturninward

Tradetensionsareredirectingexpansionambitionstowardfamiliarregionalmarkets.

WithUStariffincreasesdisruptingestablishedsupplychainmodels,APACorganisationsareseekingalternativepathstomaintainproductivityandmarketaccess.Therecalibrationisdrivingaclearregionalfocus:morethanthree-quartersofrespondentshaveatleastsomeinternationalexpansionplans,predominantlytargeting

marketswithintheirownneighbourhood.China,AustraliaandHongKongemergeastheleadingdestinations.

Internationalexpansionplans

Percentofrespondents

Nointernationalexpansionplans

Willbeginoperating1-2newcountries

Willbeginoperatingin3-5newcountries

Willbeginoperatinginmorethan5newcountries

Don’tknow

GlobalAPAC

GlobalAPAC

16%22%

46%45%

27%28%

10%4%

1%2%

Question:Whatplansdoesyourbusinesshavetoexpandinternationallyinthenext5years?

Threemostimportantcountries[2025:mostimportantcountry]inyourplansforinternationalexpansion.

Topcountriestargetedforexpansion

Percentofrespondentswhoseorganisationisplanningexpansion

GlobalAPAC

26%

25%

24%

23%

22%

17%

USA

Canada

Germany

France

China

Australia

36%

29%

29%

21%

20%

20%

China

Australia

HongKong

USA

Japan

France

APACC-suitebarometer:outlook2026ForvisMazars14

Growthstrategiesturninward

Theintra-regionalpivotreflectsapragmaticresponsetotradeuncertainty.HalfofAPACC-suiteleadershaverevisedtheirexpansionplansthisyear,withgeopoliticalinstabilitydrivingtheseshifts.While41%ofrespondentshaveaddednewtargetcountries,37%havescaledbackorcancelledplansentirely.

Changesininternationalexpansionplans

Percentageofrespondents

GlobalAPAC

Global

APAC

Addedextratargetcountriesforexpansion

Changedourtargetcountry/regionsforexpansion

51%

45%

41%

50%

Reducedcountries/regionsorginallytargetedforexpansion

35%

32%

Cancelledallplansforinternationalexpansion

6%

5%

None0ftheabove

12%

18%

Question:Oninternationalexpansionplans,whichofthefollowinghasyourorganisationdoneinthelast12months?

Factorsinchanginginternationalexpansion

plans

Percentageofrespondentswhoseorganisationchanged

plans

GlobalAPAC

Global

APAC

GeopoliticalinstabilityorsocialunrestTradeandtariffs

Scarcity/availabilityoftalentClimatechange

Noneoftheabove

60%

54%

49%

26%

5%

67%

58%

48%

18%

4%

Question:Whichofthefollowingaffectedyourdecisiontochangeplansforinternationalexpansion?

APACC-suitebarometer:outlook2026ForvisMazars15

AIgrowsworkforce

AIisreshapingworkforcedynamics,buttheneteffectisjobcreation.

InvestmentinhumancapitalremainsstrongacrossAPAC,with63%ofrespondentsplanningtoincrease

spendingonsourcingnewtalentand68%planningtoincreasespendingonupskillingexistingemployees.Thecommitmentreflectsaworkforceintransitionratherthancontraction.

Percentofrespondents

Question:Overthenext12months,howmuchwillyourorganisationchangeitsfinancialinvestmentineachoftheseareas?

WhileAIisundeniablychanginghoworganisationsoperate,thetechnologyisprovingmoreadditivethandisruptive.Although28%ofC-suiteleaderssurveyedreportAIreplacingroles,43%saythetechnologyhasalreadypromptedthemtocreatenewpositions.

HasAIreplacedjobsinorganisations?

PercentofrespondentswhoseorganisationusessomeAI

Yes,hashappened

口Notsure

No,butwillin4-5years

No,butwillwithinnextyearNo,butwillin2-3years

APAC

282610

2610

Global

29305

2214

HasAIcreatedjobsinorganisations?

PercentofrespondentswhoseorganisationusessomeAI

Yes,hashappened

口Notsure

No,butwillin4-5years

No,butwillwithinnextyearNo,butwillin2-3years

APAC

43258185

Global

53254135

Thenetpositiveeffectsuggeststhatratherthaneliminatingjobsentirely,AIisshiftingworkforcecomposition,demandingnewskillswhileopeningfreshopportunitiesfortalentacrosstheregion.

APACC-suitebarometer:outlook2026ForvisMazars16

Sustainabilityreportingoutpacesrealresilience

Businessescanhandleclimaterulesonpaper,butnotinpractice.

APACexecutivesareincreasinglyconfidentinnavigatingsustainabilityrequirements,with91%ofrespondentsexpressingconfidenceinmeetingcomplianceobligationssuchasScope1,2and3emissionsreporting.Yet,only73%feelconfi