All eyes are on China these days, but it would be a mistake to overlook economies closer to home. Chief executive officers in Mexico and South America are greatly concerned with spurring company growth, according to a new global by The Conference Board. The board's sixth annual survey of CEO challenges, involving 658 respondents from more than 40 countries, finds that profit growth ranks first on the list of Mexican CEOs' top 10 challenges, and second on the list of South American CEOs. Profit growth was also cited as a major challenge by CEOs from the U.S., Asia and Europe.

There are a few differences between the challenges facing CEOs in Mexico and South America, the board said. CEOs in Mexico are more concerned with top-line growth, product innovation, lack of pricing power, motivating employees, adapting to change and seizing opportunities in North America. Concerns of South American CEOs center on industry consolidation, cost control, integration, European competition and expansion within Western Europe.