Releasing the chamber's December quarterly business confidence survey, Mr Christie said businesses had a strong expectation their general business situation would improve or stay the same in the next six months.
More than 53% thought their conditions would improve, and nearly 40% thought they would remain the same.
That matched the expectations for the New Zealand business situation in general, Mr Christie said.
"Expectations for the New Zealand situation are high when you look at where they were three quarters ago. Their own business situation is down slightly on September but . . . [expectations] are still high."
There were no standout features in the December survey, which had results and comments similar to those of September.
But Mr Christie did not see that as a bad thing.
Turning the expectations into reality next year was the key to the success of the region, he said.
Sales for Otago businesses were starting to improve, and although profitability was still not as good as it could be, once the tills started ringing and sales increased, profitability would follow, Mr Christie said.
Although "demand" was the factor businesses found most limiting, it was affecting businesses less; from 57% in June this year to 47% in December.
About 65% of businesses expected sales over the next three months would stay the same or improve.
"The trend line is what we have looked at. This is a big improvement on this time last year. Sales drive profitability."
Businesses had pared back every possible cost, but had left making people redundant to the last, in hopes the situation would improve, he said.
While some companies would need to "tidy up" their businesses in 2010, the trend of increased profitability meant more employment towards the end of the year.
Only 9% of respondents expected the number of full-time workers to increase in the next six months, while 71% expected the number to remain the same and 7% expected it to fall.
The predominant concern for the next six months, as in past surveys, continued to be staff costs, Mr Christie said.
Confidence was still fragile and it would only take another international downturn to see it dissipate quickly.
"Barring that, if things continue as they are, the Otago economy will improve significantly. Otago weathered the recession reasonably well compared with other regions."
