17th Annual Global CEO Survey

32% of CEOs in Cyprus are very or somewhat confident about their revenue growth prospects over the next 12 months

75% of CEOs in Cyprus are very or somewhat confident about their revenue growth prospects over the next 3 years

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17th Annual Global CEO Survey
Country Summary: Key findings in Cyprus


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Our 3rd local CEO survey

2014 is a landmark year for the particular survey project of PwC Cyprus. After 3 consecutive years of carrying out a local survey, we have achieved record participation levels. The contribution of 70 company leaders in Cyprus, twice as many compared to the previous study, provides a new dimension in the analysis of the local business environment and enhances the future prospects of such initiatives. For this reason, we wish to express our gratitude to the 70 CEOs for their valuable input.

Revenue growth concerns 

CEOs in Cyprus appear less confident about their revenue growth prospects over the next 12 months compared to the past. Only 32% of CEOs in Cyprus say they are confident that their revenues will grow during 2014 when the respective percentage was 40% in 2012 and 38% in 2011.

However, CEOs in Cyprus feel more optimistic about their medium-term growth prospects with 75% of them stating confident about their prospects for increased revenues over the next 3 years.

Key growth opportunities 

According to the local survey, new product or service development leads the list of opportunities cited by CEOs in Cyprus with a percentage of 29% followed by new markets (23%) and increasing share in existing markets (23%).

Key CEO concerns 

As governments need to take the right decisions for encouraging entrepreneurship, innovation and productivity, CEOs around the world appear troubled by the same issues. The percentage of CEOs expressing concerns about government response to fiscal deficit and debt burden reaches 83% in Cyprus.

Increasing Tax burden is high on the list of concerns for participants in Cyprus, resulting from the increase in taxes imposed under the MoU agreement with Troika.

In addition, CEOs are worried about the lack of stability in capital markets, with a percentage of 70%. The need of businesses for economic stability which can lead to attracting new capital and investments justifies the high percentage of CEOs who are concerned about the lack of stability in capital markets.

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Energy (Oil & Gas) CEOs confidence about their company's prospects for revenue growth over the next 12 months

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