CEO Survey 2025

14th PwC Cyprus CEO Survey

Reinvention on the edge of tomorrow

A total of 122 business leaders who participated in the
14th PwC Cyprus CEO Survey, are revealing how
they are navigating changing stakeholder priorities
and how they are challenged to reinvent their business models.

CEO Message

We are at a pivotal moment in time. In today’s rapidly changing global business environment, organisations face massive opportunities but also existential threats that require prompt and decisive action.

The 14th PwC Cyprus CEO Survey reveals a notable optimism amongst the global, as well as the Cypriot business leaders, regarding global economic growth and the prospects for their own companies. This optimism prevails despite the fact that CEOs are operating in an environment of considerable geopolitical volatility, shortage of human capital with essential skills and technological disruption.

The survey re-confirms the finding that CEOs are recognising the existential threat to their businesses if they do not reinvent their organisations and their business models. The survey reveals that many companies are already taking some reinvention steps towards generating value in innovative ways, but the pace of this reinvention is too slow. Barriers to reinvention include weak decisionmaking practices, low levels of resource reallocation year-on-year and an overemphasis on short term results.

There is significant emphasis this year on the investment in Generative AI (GenAI) for its cost-saving potential but also for unlocking new sources of value. There is clear evidence that CEOs are scaling up their investments in GenAI, maintaining high expectations for productivity gains and contribution to growth, while addressing related challenges.

Overall, a clear conclusion coming out of this survey is that businesses should be investing in a state of readiness which will minimise the impact from any adverse surprises and utilise this agility and adaptability as a source of strategic competitive advantage.

I take this opportunity to extend a warm thank you to the 122 business leaders who participated in PwC’s 14th Annual CEO Survey in Cyprus, sharing their optimism, their concerns and their insights in relation to the economic landscape in which we are operating in.

Philippos Soseilos
CEO & Chairman
PwC Cyprus

Business as (un)usual

+ Global Economic Growth

In a finding that might seem surprising against a backdrop of geopolitical and trade tension, CEOs in Cyprus, Eurozone and Global tell us they are optimistic about the outlook of the global economy.

In Cyprus, 57% expect global economic growth to improve in the 12 months ahead, up from 40% in last year’s survey and up from 23% the year before. 63% of CEOs in the Eurozone expect an improvement, up from 44% last year, while in Global, 58% are optimistic about the improvement of global economic growth, compared to only 38% last year.

+ Economic Growth in Cyprus

Regarding CEOs’ optimism about the countries they operate in, 69% of business leaders in Cyprus express confidence in their country’s economic growth, up from 43% the previous year.

This indicates a significant increase in CEOs optimism concerning both global economic growth and Cyprus’s recovery.

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+ Threats

What concerns and potential threats do our CEOs anticipate facing in the next 12 months?

CEOs in Cyprus differentiate themselves and are concerned for the geopolitical conflicts, the lower availability of workers with key skills and the technological disruption.

Two defining issues:
AI & Climate Change

+ Early Returns on GenAI

Only two years after GenAI appeared on the radar of most executives, companies around the world are adopting it at scale. What’s more, many CEOs are seeing promising results.

Regarding the future impact of Generative AI on company profitability, CEOs appear uncertain. 44% of CEOs in Cyprus believe that Generative AI will boost their companies’ profitability, whilst another 44% expect little to no change.

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+ Upside from Climate Action

When we asked CEOs in Cyprus to take stock of the financial impact of their climate-friendly investments over the last five years, we found that most CEOs report that climate-friendly investments had no significant impact.

In Cyprus, 64% of CEOs indicate that climate-friendly investments over the past five years have had minimal or no impact on revenue from product or service sales, while 58% report little to no effect on government incentives received. Additionally, 27% of these CEOs note an increase in their costs due to these investments.

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Ramping up reinvention

+ Ramping up reinvention

Many business leaders recognise the need to reinvent their business models. Consistent with our last two annual surveys, nearly half of CEOs in Cyprus (50%) say their company will remain viable for less than ten years if it continues its current path, up from (43%) last year.

Nearly half of the CEOs in the Eurozone (49%) and more than half of the CEOs in Global (55%) express confidence that their companies will remain viable for more than ten years if they continue on their current path. This suggests that they have already adapted their businesses to address the challenges of today’s environment.

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Conclusion

Looking towards the future, the success of companies will depend on how they adapt to climate change and the potential of AI. CEOs are encouraged to integrate AI responsibly, explore opportunities in climate-friendly products, and understand shifting industry structures. Strategic decision-making amidst geopolitical and economic challenges is crucial, as is investing in top priorities and talent.