With both Europe and the US struggling with huge debt, UK employers would do well to look to expand into Asia, the Middle East and Latin America, according to Antal International’s Graeme Read.

The group managing director told Recruiter: “We look at export markets for both products and services in Asia — anything from the Middle East through to Japan. If you look at the global snapshot, Asian countries are dominating.

“Countries looking to hire include the Philippines, India and China, and Latin America is another key area. The Indian subcontinent, South-East Asia and China is where the action is at the moment.

“British companies have got to look at doing business with those markets. If the worst happens, it is going to hit everyone and it is going to hit jobs hard in the UK in firms that are exporting to the US or to Western Europe where the concentration of exposure is highest.

“That can be offset to a degree by getting into Asia, the Middle East and Africa, and Latin America, which are all areas that are experiencing much faster GDP growth, rising middle class consumers with money. In fact, China is having to put the brakes on its economy through raising interest rates to temper demand in inflation.

“It is going to be sluggish [in the West] for the foreseeable future while this uncertainty continues. While this uncertainty exists, we have got to, as a nation, look to do business with the likes of India.”