22nd Annual Global CEO Survey
Last year, our survey revealed record-breaking CEO optimism. This year, chief executives tell a different story. Trade conflicts, political upset, and a projected slowdown in global economic growth have increased uncertainty and decreased confidence in revenue prospects. Explore the strategies organisations are using to navigate this new environment.
Key findings from CEOs in Colombia
CEOs around the world believe that global economic growth will decline in 2019. In contrast, Colombia’s business leaders were optimistic about the economic growth in 2018 and are more confident for 2019.
Colombia’s CEOs are planning strategies based on operational efficiency and the launch of new products or services to increase the revenue. Additionally, they agree that artificial intelligence (AI) will significantly change the way we do business in the next five years. However, a quarter of them do not have plans to pursue any AI initiatives actually and 31% are planning to start those in the next three years.
CEOs' prospects for growth in 2019
Last year saw a record jump in optimism regarding global growth prospects. This year saw a record jump in pessimism, with nearly 30% of CEOs projecting a decline in global GDP growth, up from a mere 5% last year. CEOs also reported a noteworthy dip in confidence in their own organisations’ revenue prospects over the short (12-month) and medium (three-year) term.
Across the survey rang a general theme of hunkering down as CEOs adapt to the strong nationalist and populist sentiment sweeping the globe. The threats they consider most pressing are less existential and more related to the ease of doing business in the markets where they operate. When asked to identify the most attractive foreign markets for investment, CEOs are narrowing their choices and expressing more uncertainty.
In addition to the fault lines developing geopolitically, CEOs are working to bridge the gaps in their own capabilities. Organisations are struggling to translate a deluge of data into better decision making. There is a shortage of skilled talent to clean, integrate, and extract value from big data and move beyond baby steps toward AI.
In PwC’s annual global survey of chief executives, CEOs’ optimism about their own company’s prospects is a leading indicator of broader economic prosperity. How, then, can we best foster confident CEOs?
The Inside the Mind of the CEO interview series explores a wide range of critical decisions chief executives around the world face in today's dynamic society.
Global Marketing & Insights Director, PwC Switzerland
Tel: +41 79 210 6692