AmCham 2022 Business Climate Survey Again Reveals Bullish Sentiment on Corporate and Taiwan Growth
TAIPEI, Taiwan – While 2021 proved to be another challenging year for the world economy, Taiwan once again demonstrated its resilience with an impressive economic performance. As demand for Taiwan exports remain high, relatively high gross domestic product (GDP) growth is expected again this year. Reflecting this trend, the results of the American Chamber of Commerce’s 2022 Business Climate Survey indicated high levels of optimism among member companies regarding Taiwan’s economic outlook.
Among those who completed the survey, which took place between December 1, 2021, and January 7, 2022, more than 87% expressed confidence in Taiwan’s economic growth over the next 12 months, while 83% were positive about the outlook over the next three years. In addition, a record 90% indicated a degree of confidence in their organization’s revenue growth prospects over the next 12 months; 91% said they are very or somewhat confident in those prospects over a three-year time span.
According to survey-takers, the administration of President Tsai Ing-wen should prioritize energy (61%), COVID-19 pandemic control (46%), cross-strait relations (42%), trade agreements with the U.S. and other partners (42%) during her current term.
On energy policy, a considerable majority expressed concerns about power supply sufficiency (78%), voltage stability (74%), cost of electricity (61%), and progress towards green energy (73%). All of these represented double-digit increases from last year’s results. A high 71% also said they were concerned about grid resiliency, a new response item that was added this year.
Some 79% of survey respondents cited at least a small impact from increased U.S.-China competition on their businesses. More than 42% of respondents indicated the impact of that competition on Taiwan to have been positive, a decrease of around eight percentage points from the previous year. Meanwhile, a higher proportion of member companies saw the impact as negative.
In terms of economic accords, more than 65% support the negotiation of a bilateral trade agreement with the U.S., while 62% back Taiwan’s admission to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Nearly all (95%) survey respondents said that the Bilingual Nation 2030 policy will benefit Taiwan’s economic development, but some raised doubts that true bilingualism is achievable by the target date. The 2022 Business Climate Survey was distributed to a total of 412 voting members, of which 178 – or around 43% – completed the questionnaire. The annual survey helps the Chamber shape its advocacy agenda for the coming year and serves as a useful resource for the Taiwan and U.S. governments, scholars, and others interested in U.S.-Taiwan economic relations.
About Our Chamber
Founded in 1951, AmCham Taiwan works to improve Taiwan’s business environment, making it more open, innovative, and prosperous. With over 1,050 members from more than 500 international companies, the non-profit, independent organization serves as a vital bridge between the United States and Taiwan. The White Paper has been published annually for the past 25 years.
For more information, please contact:
Alfred E. Tsai
Director of Government and Public Affairs
Phone: (02) 2718 8226 Ext. 314
E-mail: [email protected]
電話：(02) 2718-8226 分機314