Cautious optimism in Hungary

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The number of CEOs who believe that the global economy will improve over the next 12 months is 44%, up from 18% in the previous year. The Hungarian CEOs’ expectations about the future are also improving. In Hungary, two-thirds of the CEOs expect growth in the global economy, up from one quarter in 2013. Only one per cent expect an economic downturn.

At the end of 2013, Hungarian CEOs saw much more favourable trends, both in domestic and foreign markets, and in their companies’ positions, as compared to the previous year.

The Hungarian CEOs’ confidence level about their company’s short-term prospects for growth corresponds to the global average: 72% are confident about their company’s growth prospects. Most Hungarian CEOs are confident about their industry’s prospects for revenue growth in their primary market of operation over the next three years (85%). CEOs of automotive and retail companies are even more optimistic. In contrast, almost none of the CEOs of financial service providers, and power generation and distribution companies expect an improvement.

Half of global CEOs want to hire more people in the coming year, which is up from 45% last year. The most favourable employment prospects worldwide are in the technology and insurance industries.

Whereas two years ago recruiting middle managers with high leadership potential was the biggest problem, one of the key challenges today is finding skilled labour.