By Bloomberg and BusinessWeek staff

Vietnam is No. 1

So, you expect your business will be more profitable in 2010? So do 92% of companies surveyed in Vietnam by consulting firm Grant Thornton International. Other places—particularly in markets in Asia-Pacific and Latin America—had positive outlooks as well: 47% of respondents across 36 countries expect better profits this year and 34% hope to boost employment. While the global economy has a long way to go before it recovers, the results suggest that the worst of the downturn is over, says Alex MacBeath, global leader for markets at Grant Thornton International. Last year, optimism hit a record low since the London-based firm began its international survey of privately held companies in 2003, but MacBeath says business is now focused on recovery and is confident about the ability to raise finance and the opportunity to increase revenue. The mood in the EU, Nordic nations, and North America is more cautious than in emerging economies but improving. Read on to see which countries have the best expectations for increased profits this year.

Source: Grant Thornton International