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Some 45 percent of Asia-Pacific business leaders are planning a cross-border merger or acquisition in the next 12 months to help fuel growth, according to PricewaterhouseCoopers' (PwC) 10th Annual Global CEO Survey, which questioned 1,100 top executives from 50 countries.

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Of CEOs in emerging economies, the Asia-Pacific is the preferred region for possible mergers and acquisitions (M&As), followed by Western Europe, Eastern Europe and Latin America.

However, among all CEOs, Western Europe is the favored M&A market, followed by Asia-Pacific and North America.

While gaining access to foreign markets is important to future business plans, the majority of CEOs are investing close to home targeting countries in their region or traditional trading partners, the survey showed.

"They seem to be avoiding bold moves away from their comfort zones," said Frank Lyn, PwC China Markets Leader.

While gaining access to new customers is the main purpose cited for cross-border M&As, Asia-Pacific business leaders do not underestimate the difficulties faced in international acquisition and integration.

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