Differences in global perspectives across regional groups are partly translated into investments plans. Despite uncertainties for 2014, almost half (48 per cent) of respondents from developed countries and 56 per cent of those from developing countries forecast an increase in their FDI expenditures over 2013 levels. Developed country investors’ forecasts of their foreign expenditures are quite stable over the short term with only minimal changes in the share of those who would reduce their investment levels in the medium term, while there is an increase of investments of firms based in developing countries for the year 2016. In particular, about 7 per cent of developed-country TNCs expect their FDI budgets to decline in 2016, compared with 3 per cent of TNCs from developing countries (figure 9). The constant spending plans of investors in developed economies could be yet another indication of their cautious approach to foreign investment and their deep uncertainty about the global macroeconomic scenario. On the contrary, TNCs from developing and transition economies are more confident about growth and internationalization opportunities. These dynamics may reinforce the long-term trend of greater participation by TNCs from emerging economies in global FDI flows.