More than double as many CEOs as the previous year are optimistic about 2024 and the prospects for global economic growth.
One of the most intriguing findings from the PwC 27th Annual Global CEO Survey that was just announced was that the study talked to 4,702 CEOs from 105 countries and polled them. 38% of them were optimistic about the growth of the global economy over the next year. This is a much higher percentage than the 18% of CEOs who had the same attitude in 2023.
As inflation and macroeconomic concerns have reduced, so have forecasts of an economic downturn, from a record high of 73% to 45%. The percentage of CEOs who said their organisation is highly or extremely susceptible to these worries declined from 25% to 18% despite the continuous global turmoil. Furthermore, these organisations plan to expand their employment in the following year—39% of CEOs want to hire at least 5% more people.
CEOs who participated in the study, however, also voiced concerns about megatrends like sustainability and generative AI. Of them, 45% said they did not think their present company will still be around in ten years if it keeps going in the same direction, which is an increase from 39% in 2023.
“Data from this year indicates that CEOs are rather uncertain about the future, yet they are acting. They are changing the way they do business, investing in people and technology, and taking steps to manage the possibilities and risks that the change in climate has brought around. PwC Global Chair Bob Moritz says that companies need to speed up the process of reinventing themselves if they want to do well in the short and long term, build trust, and provide long-term value.
