South African business leaders are notably optimistic about overseas expansion, according to a Kreston Global report.
The study found that 66% of South African leaders expect significant growth in international expansion, compared to a global average of 42%. This suggests that South African entrepreneurs are more confident about global growth than their peers in 13 other countries.
The report surveyed 1,400 C-suite executives and senior managers from organizations that have successfully expanded internationally. It included responses from Brazil, China, Egypt, France, Germany, India, Japan, Mexico, Nigeria, South Africa, Spain, UAE, UK, and the US.
Nearly all South African respondents (97%) believe global expansion has benefited their businesses, with increased sales, revenue (65%), and profitability (61%) being the main advantages.
Additionally, 69% are more likely to consider private investors for international growth, higher than the global average of 47%.
Looking ahead, 98% of South African respondents expect an increase in businesses expanding overseas within the next year, compared to the global average of 87%.
Preferred expansion regions include Africa (50%), Western Europe (47%), North America (43%), and North Asia (37%), with favourable economic prospects, available talent, and trade agreements cited as key factors.
Despite domestic economic challenges—such as a narrow escape from recession in late 2023, a GDP decrease of 0.1% in early 2024, and financial strain on consumers—many South African businesses remain focused on international growth.
The report underscores their resilience and outward-looking approach in the face of internal economic pressures.
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