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 Czech Republic
CEOs of the most significant companies in the Czech Republic feel briefly optimistic, yet they are concerned about the further development in the upcoming years, in particular considering foreign market development. Up to 82% of CEOs believe that the local economy will grow this year or develop steadily; however, a 53% majority expects the speed to slow down in the medium-term horizon.
By contrast, CEOs are optimistic with respect to the management of their own companies, although less optimistic than in the past. Three quarters (75%) of them expect their companies to grow this year; even two more percent expect the growth in medium-term horizon. Nevertheless, according to last year’s survey, short-term and medium-term yield growth was expected by approximately 90% of the CEOs. This fact originates from the 10th anniversary survey of PwC consulting company conducted among 129 Czech CEOs.
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
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