CEOs see positive upwards trends for 2024
More CEOs are optimistic about 2024 and its global economic growth prospects, more than doubling its number from the previous year.
This was one of the biggest conclusions drawn from the most recent PwC’s 27th Annual Global CEO Survey, published late last week. The report, which interviewed 4,702 CEOs across 105 countries and territories found that 38% of CEOs surveyed were optimistic about global economic growth growing over the next 12 months, a much higher number than 2023’s recorded number of 18% of CEOs.
Expectations of economic decline has also fallen from a record high as anxiety over macroeconomic issues and inflation falls, from 73% to 45%. Despite ongoing geopolitical conflict, the proportion of CEOs who felt their organisation is highly or extremely exposed to these issues fell from 25% to 18%. These organisations are also expecting to hire more people in the next 12 months, with 39% of CEOs looking to increase their headcount by 5% or more.
However, CEOs surveyed in the survey also expressed worry about megatrends such as generative AI and sustainability, with 45% of CEOs sharing that they did not believe their current business will be viable in a decade if it continues its current path – up from 39% in 2023.
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“This year’s data suggests a high degree of CEO uncertainty ahead, but CEOs are taking action. They are transforming their business models, investing in technology and their people, and managing the risks and opportunities presented by the climate transition. If businesses are to thrive over the short and long-term, build trust, and deliver sustained and long-term value, they must accelerate the pace of reinvention,” said Bob Moritz, Global Chair, PwC.