"The top five destinations for would-be deal-makers are: China, India, Brazil, United States and Canada," the report said.
It said sectors like life sciences, oil and gas, automotive, consumer products, automotive and technology are expected to see the highest level of activity in M&A deals.
Globally, the number of mergers and acquisitions (M&A)is expected to pick up over the coming year, with 35 percent of companies surveyed likely to pursue acquisitions compared with just 25 percent a year ago.
About 70 per cent of global executives expect deal volumes and deal sizes to improve over the next 12 months.
"All of this is underpinned by growing confidence in a global economy on sounder footing improving economic conditions in mature economies and more stabilisation in the major emerging markets," E&Y Global Vice-Chair (Transaction Advisory Services) Pip McCrostie said.
The survey found that 65 per cent of executives expect the global economy to improve over the coming year, up from just 22 percent a year ago.
Companies are expected to use more debt and equity to finance deals, instead of relying on cash, it added.
The survey was conducted among 1,600 executives from large companies globally and across industry sectors.