97% of Singaporean executives fear an imminent recession

Concern is second highest among AsiaPac nations, above even Hong Kong's and China's.

It is behind only Japan's at 98% concern of a 2012 recession, and above the APAC average of 91%, according to a new Talent2 study.

"91% of business executives across the region are concerned about an imminent recession, with some markets still experiencing volatile," says Talent2 in a release for its APAC Market Pulse 2 study.

"Positively, more than half (55%) feel better prepared for market volatility having learnt from the last global downturn," it added.

Talent2 observes that "a blended model" for employment is emerging in Asia.

"76% see the principal benefits in employing workers on contract as the flexibility to scale up and down and the ability to better manage employment costs (43%). However, only 12% of the APAC workforce is employed on a contingent basis. A vast majority of the APAC workforce (88%) is made up of permanent employees," Talent2 noted.

"The research illustrates that the Asian economic environment is caught in two speeds, with just under half (47%) of respondents stating their business has grown consistently since the financial crisis," Talent2 explained.

"In spite of this two-speed economy in Asia Pacific, the study highlights that those countries enjoying consistent growth also cite a high rate of concern about a recession in the next year with 97% in Singapore, 95% in Hong Kong, 87% in China and 85% in Australia worried about a pending financial crisis," it said further.