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Richmond Events Business Panel Report - Economic Outlook

Key Findings Include:

  •  Only 4% of the panel expect the economy to grow significantly over the next 12 months. However, almost 2/3 expects it to have shown some signs of growth.
  •  The figures for 3 years’ time are much more optimistic. 19% of the panel expect the economy to have grown significantly whilst a further 71% expect it to have grown marginally. Only 3% expect it to shrink a little.
  •  The highest proportion of the panel has increased headcount and may do so again, with a further 8% having increased it but not expecting to do so again. Areas showing particularly strong growth include IT, sales and marketing. 
  •  69% of the panel feel their revenues will increase over the next 12 months with 59% feel their profits will do likewise. This further reinforces some of the renewed optimism within this year’s results.
  •  37% expect to see their budget increase compared to 19% who expect it to see it go the other way. The rest, 44%, don’t see it changing.
  •  20% of organizations expect to move some part of their business outside the US over the next 2 years. The most popular destinations are South / Central America and India.

Download the full report.

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