Almost half of CEOs fear that without changes their company will not be viable in 10 years

By: Trademagazin Date: 2024. 01. 19. 13:33

The proportion of CEOs who believe global economic growth will improve over the next 12 months has more than doubled (from 18% to 38%) compared to the previous year. At the same time, as a result of increasing technological and climate pressure, 45% of managers are worried about the long-term survival of their business, according to PwC’s 27th Global CEO Survey published yesterday in Davos.

CEOs’ expectations of an economic downturn dropped from the record high level measured in last year’s survey (73%) to 45%, while exposure to inflation and macroeconomic volatility also decreased to 24% (from 40% and 31% last year). Despite ongoing conflicts, the proportion of CEOs who felt their company was moderately or highly exposed to the risk of geopolitical conflicts is 7 percentage points (18%) lower.

“As business leaders worry less and less about shorter-term (e.g. macroeconomic) challenges, they are increasingly able to focus on disruptive and longer-term factors within their industry. Although they are more optimistic about the global economy, they are less sanguine about their own earnings prospects than last year, and are typically aware of the need for fundamental renewal of their business operations. Whether it’s accelerating the adoption of generative AI or addressing the business challenges and opportunities of climate change, this year will see transformation accelerate”

– Szabolcs Mezei, partner of PwC Hungary, summarizes the main findings of the global survey.