Financiers around the world predict bright economic outlook for 2007

60 per cent of finance professionals optimistic about the health of the global economy in 2007

Only Italy, Germany and France pessimistic about the health of the global economy

Business technology spending expected to rocket over the next year

One in four finance professionals expect recruitment and training spend to increase during 2007

The future of the global economy
Robert Half International, the specialised recruitment firm, has today published research that reveals 60 per cent of financial professionals around the world predict the global economy to turn the corner in 2007.

The annual Robert Half International Financial Directions survey was conducted with over 2,500 finance professionals in 13 countries and provides an insight into their attitudes towards the health of the economy. The survey reveals that the majority of finance professionals (60 per cent) are either ëoptimisticí or ëvery optimisticí when asked to comment on the health of the global economy for the upcoming year.

The most optimistic country is Canada, with one in four respondents (28 per cent) ranking the health of the economy ëvery optimisticí, followed by the USA with 24 per cent, compared to the global average of 15 per cent. The Netherlands are also highly optimistic about the coming year with almost two thirds of respondents (65 per cent) rating the economy as either ëoptimisticí or ëvery optimisticí, compared to the global average of just 27 per cent.

European companies which demonstrate far less optimism for the global economic future include Italy, where almost a third of respondents (31 per cent) ranked the health of the economy for 2007 ëpessimisticí and ëvery pessimisticí, followed by Germany (30 per cent) and France (25 per cent).

Ian Graves, Managing Director Continental Europe, Robert Half International said:
ìIt is good to see that so many finance professionals are positive about the future health of our global economy. It is interesting to note that those who expressed the highest optimism are from Canada and the USA. Given their industry background and experience, we consider the opinions of these individuals a useful barometer to what the future global economy holds.î

Technology spending to soar in 2007
The Financial Directions Survey also questions respondents on the areas of business where they expect to see the biggest spending increase over the next twelve months. The research found that over a third of finance professionals across the globe expect technology spend to soar the most, with employers in the Czech Republic (76 per cent), New Zealand (58 per cent) and Italy (47 per cent) anticipating the greatest financial injection into this area of business.

Employee recruitment and training ranked second in the line up of increased business costs with one in four (26 per cent) expecting to see a rise in spending. The survey uncovered that those in France (36 per cent), Australia (36 per cent) and the UK (31 per cent) are most likely to spend more on recruitment and training in 2007.

Ian Graves, continued:
ìTechnology investment and employee recruitment and training both play important parts in improving business performance and helping companies to stay ahead of competition.

ìWhilst keeping up with technological advances ensures increased productivity and efficiency, committed and well trained staff will also contribute to this and therefore companies must be prepared to strike a balance between technology spend and staff recruitment and training spend. The global market will continue to change over the next ten years and competition will continue to intensify so companies will need to put sufficient emphasis on filling any skills gaps to ensure maximum productivity is achieved.î

US businesses adjust in order to meet rising healthcare costs
Other areas which respondents ranked for increased business spend included employee healthcare plans, other employee benefits and telecommunications. In the USA, more than one in three (35 per cent) finance professionals cite the top increased business spend for 2007 to be healthcare, compared to the overall average of one in ten (10 per cent). At the opposite end of the scale, in New Zealand, projected increased healthcare spending is 0 per cent, followed by Australia (2 per cent), Italy (3 per cent) and the UK (4 per cent).

Telecommunications is likely to see the biggest spend increase in Italy (21 per cent) and the Netherlands (10 per cent), whilst the largest projected spend increase for employee benefits is in Belgium (11 per cent) and Ireland (10 per cent).

Ian Graves concluded:
ìEvidently businesses in different countries are facing different challenges in the workplace. Whilst the majority of employers are planning to invest more in 2007 into technology or recruitment, many companies in the USA are instead responding to the predicted rise in healthcare costs and demands of employees who live in a society without a publicly financed healthcare system. It is important for employers in different working environments to recognise the needs of their employees as well as their companies, and respond accordingly.î