Cautious revenue growth optimism for the year ahead
When we surveyed CEOs in Greece, 84% expected Global economic growth to improve during the year ahead, while a skyrocketing number (96%) of them were confident of Greece’s economic growth in the same period.
However, this optimism does not fully extend to their own companies’ performance, as only 55% reported being “very” or “extremely” confident for revenue growth within their firm over the next 12 months.
Greek CEOs have acute awareness of the potential threats laying ahead and are mostly concerned about health (67%) and climate change (50%) risks, with the latter being the most significant emerging threat compared to our last year’s survey. No matter the threat, they are mostly concerned about associated near-term impact on their companies’ ability to generate revenue.
Path to decarbonisation is characterized by slow progress
Despite climate change being recognized as the most emerging threat, Greek senior executives fall behind their Global counterparts in making decarbonisation commitments, with fewer than a quarter of them reporting it.
Meeting customers’ expectations was reported by 40% of the Greek respondents as the most influential factor when pursuing decarbonization commitments.
Pertaining to non-financial related outcomes included in long-term corporate strategy, CEOs in Greece, like their Global peers, have not yet clearly anchored ESG targets in it.
Improvement in business agility is needed to pursuit changes
The ability to act swiftly and decisively is more important than ever as business executives seek to mitigate risks, drive commitments into actions and capitalize on opportunities.
When we asked leaders in Greece how frequently they assess and change their major initiatives, only 32% reported assessing major initiatives at least twice a year, compared to 44% globally, while 47% reported changing them at least every two years, compared to 41% at a Global level.
Looking ahead, the outlook Greek leaders share in their companies’ agility extends also to the actions they take, as evidence from our survey indicates that they engage significantly less frequently in processes including initiating investments and stopping low-potential or non-aligned projects
Positioning towards tax footprint lacks focus
Our survey indicates that executives in Greece trail their Global counterparts regarding their attitude towards their companies’ tax footprint.
Regular review of tax strategy (13%) alongside minimization of tax amount paid (17%) constitute the main pillars of the tax position that Greek executives need to calibrate, compared to their Global peers (38% and 37% respectively).
Additionally, 34% of the Greek companies and 31% of the companies worldwide reported not yet preparing for the imminent introduction of the Global minimum corporate tax rate of fifteen per cent in 2023.
Contact us
