PwC’s Hungarian CEO Survey 2014

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Optimism and confidence
CEOs have found their way
Dr. Tamás Lőcsei
Service Line Leader
Tax Advisory Services
Tel: +36 1 461 9358
Márta Szűcs
Tel: +36 1 461 9274
Katalin Simon
PR manager
Tel: +36 1 461 9755
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Cautious optimism among Hungarian CEOs

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After a long wait, we are finally seeing a substantial change in business leaders’ economic outlook. Both Hungarian and global CEOs are optimistic about their company’s prospects for growth and the recovery of the global economy. They remain concerned about economic policy factors, but they are focusing on customers and markets as a strategy to improve the present situation. This is the third year PwC has prepared the Hungarian CEO Survey. The survey was conducted in cooperation with the Confederation of Hungarian Employers and Industrialists (MGYOSZ) and the Hungarian Association of Executives (MOSZ).

Optimism is rising among Hungarian CEOs as the global and local economic outlook they express projects a significant improvement compared to last year. The responses given by the 1,344 CEOs polled for the global survey paint a similar picture: 85% are confident about their companies’ revenue growth in the next year, 92% over the next three years, and 50% want to hire more people.

Most Hungarian companies started smaller or larger restructuring measures in their organisations last year. Almost three out of four CEOs implemented cost reduction, while every third company underwent a major IT transformation in the 12 months preceding the survey.

As regards economic and political factors, both global and Hungarian CEOs remain concerned about the increasing tax burden, overregulation and the public deficit as potential threats to their organisations’ growth prospects.
CEOs expect that three major global trends – rapid technological advances, demographic changes, and shifts in economic power –, will have a major impact on the global economic and social environment.

Main themes

Cautious optimism

What CEOs think about the global economy, company’s growth prospects and about hiring employees?

What are the CEOs main concerns?

Measures taken by governments top the list of threats both in Hungary and globally

Trends that CEOs think will transform their businesses

Both global and Hungarian CEOs expect three major global trends

What to expect in business?

Traditional target markets in focus

Corporate responsibility

About CR programmes and business strategies

The aim: finding the right balance

Which skills do CEOs need most to cope with the current situation?