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24th Annual Global CEO Survey - Caribbean findings
Conducted in January and February 2021, the 24th Annual Global CEO Survey explores the views of 5,050 chief executives around the world on how they are reinventing their companies to mitigate global disruptions, such as the impact of COVID-19, and ensuring sustainable growth.
Key findings
Unprecedented optimism about the global economy
One year after the WHO declared COVID-19 a pandemic, 69% of Caribbean CEOs believe global economic growth will improve in 2021. Their positive outlook reflects recent economic events as well as the momentum around vaccine development and rollout in parts of the world.
Rebounding confidence, shifting growth
CEOs’ optimism extends to their own company’s performance. In the Caribbean, 78% say they are either somewhat confident or very confident about their organisation’s prospects for revenue growth over the next year. Even more positive, 88% are confident looking ahead three years.
Lingering anxiety
Despite their confidence in economic improvement, Caribbean CEOs, like CEOs globally, are acutely aware of threats in the external environment, starting with the obvious: pandemics and other health crises (61%) placing it just behind cyber threats on the list of threats Caribbean CEOs worry about.
Cybersecurity, misinformation, and the digital effect
Cyber threats are the top concern for 67% of Caribbean CEOs, likely in response to a rise in cyberattacks over the past year. Also rising rapidly on the list of CEO concerns is the spread of misinformation (78%). This coincides with the acceleration of companies’ digital transformations during the pandemic. Over half of CEOs plan to increase their investments in digital transformation by 10% or more, with no plans to slow down.
The climate change challenge
One third (31%) of Caribbean CEOs have factored climate change into their strategic risk management activities - 37% globally. Some of these CEOs are located in countries with high natural hazard exposure so we might expect this figure to be higher and businesses to be better prepared for climate change risk. In contrast, 82% of CEO’s in the Caribbean selected climate change as a concern, 59% of them are somewhat concerned and just 24% extremely concerned.
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