The pandemic and all the changes it has introduced in our daily lives and continues to bring about 2 years later, coupled with the new challenges and opportunities arising from the new order of things in the business landscape and the record optimism of business leaders regarding economic growth are the key takeaways of this survey. To these I would add one more: The fact that for the last 11 years we have been listening to and presenting the issues that concern CEOs Globally, in the Eurozone and in Cyprus. We have therefore reached a point in time where we can look back together into the past, to compare and discuss both the changes and the constants that are part of the current business structure.
A record number of 161 business leaders have participated in PwC’s 11th Annual Cyprus CEO Survey sharing their thoughts for the future. Let’s take a brief look at the points highlighted by CEOs in Cyprus.
are optimistic that global economic growth will improve over the next 12 month
are optimistic that economic growth in our country will improve over the next 12 months
of CEOs are extremely or very confident about their company’s prospects for revenue growth over
have not taken action to prepare for potential global tax policy change
The positive outlook on global economic growth also extends to CEOs’ forecasts of increased revenue for their own business.
In Cyprus, 40% of CEOs are very confident about their company’s prospects for revenue growth over the next 12 months, while an additional 53% are moderately confident. Similar trends in the confidence rates of business leaders regarding the profitability of their companies are recorded both in the Eurozone (57%) and Globally (56%)...
Despite the general sentiment of confidence, CEOs are concerned about global threats and how they will negatively impact their company over the next 12 months. Health risks dominate their concerns at 66%, followed by macroeconomic volatility at 60%, geopolitical conflict at 52%, climate change at 46%, cyber threats at 44% and social inequality at 11%. CEOs in the Eurozone and Globally appear to be most concerned by cyber threats with 50% and 49% respectively, followed by health risks at 43% for the Eurozone and 48% Globally. In the third place on the list of major concerns for CEOs in the Eurozone we find macroeconomic volatility and climate change with 38%, while for CEOs Globally macroeconomic volatility ranks third with 43%.
“Something that is evident over time in our survey is that innovation and technology give business leaders the drive to go beyond the tried and tested by facilitating transformation to ensure sustainable business results.”
PwC CEO Survey 25 years
For the past quarter century, CEOs have been navigating change and sharing their insights with PwC. Through it all, delivering sustained outcomes has taken a community of solvers, transformation and trust.
Director - Marketing & Communications, PwC Cyprus