Higher costs had the biggest impact on Asian businesses in 2023, even as they continued to grapple with a global economic slowdown and rising borrowing costs, according to a survey by UOB. More than 4,000 businesses in Southeast Asia and Greater China were surveyed in China, Hong Kong, Thailand, Vietnam, Malaysia, Singapore and Indonesia. Of those polled, 32% said they were impacted by high inflation, another 32% said they faced increased operating costs, while 24% said rising labor costs hurt their business, UOB’s 2024 Business Outlook Survey reported. The online survey, carried out from last December to the middle ... (full story)