PwC’s 8th Hungarian CEO Survey

Subdued growth, focus on internal initiatives

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CEOs’ confidence in global and Hungarian economic growth is subdued compared to last year. Despite this, they are still confident about their own organisations’ success, which they aim to ensure by focusing on operational efficiencies, innovation and human capital. Both globally and in Hungary, there is consensus on the key role data plays in decision-making. However, few CEOs are satisfied with the quality and scope of their data. While the majority of global and Hungarian CEOs agree that AI will dramatically change their business over the next five years, only a third of the CEOs surveyed have plans to pursue AI in the next three years.

You can read more information in our press release, the video summary of our survey can be found on the right.

Availability of key skills is still on the top

In Hungary, the top concern is the availability of key skills, followed by changing workforce demographics (83%), rising employee benefits (72%), and over-regulation (71%). The most significant change has been in the level of concern about exchange rate volatility: 63% of Hungarian CEOs report they are affected by it compared to 46% last year.

More concerns about climate change and volatile energy costs:

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Big data in focus

CEOs seem to be in agreement on the value of data: nearly all respondents indicated a willingness to use data to ensure the long-term success and durability of their business. Despite massive investments in IT infrastructure over the past decade, CEOs report that they are still not receiving the comprehensive data they need to make key decisions. The only exception is financial information, with 51% of Hungarian CEOs saying they receive comprehensive data concerning that area.


What are the primary reasons for the inadequacy of data received?

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Artificial intelligence: solution or another problem?

The majority of global (85%) and Hungarian CEOs (60%) agree that AI will dramatically change their business over the next five years. Globally, 62%, while in Hungary, 71% of CEOs agree that AI will have a larger impact on the world than the Internet revolution, and the majority also agree that AI is good for society. However, the overwhelming sentiment among CEOs is of distrust in AI: 85% of Hungarian CEOs and 84% of global CEOs agree with the statement that AI-based decisions need to be transparent and explainable in order to be trusted.

Are you an AI optimist?Find out compare your result to CEOs around the world!

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About the survey

This is the 8th year PwC has conducted the Hungarian CEO Survey. Our survey is based on PwC’s Annual Global CEO Survey, which is now in its 22nd year, and provides insight into Hungarian CEOs’ thoughts on challenges and opportunities for their companies, industries, and the general business environment. The survey was conducted in cooperation with the Confederation of Hungarian Employers and Industrialists (MGYOSZ).

"Subdued growth, narrowing market opportunities, a skills gap, and distrust in the latest technologies. This is what we see now. However, there is also strong internal focus on creating the workplace of the future and developing efficient processes and innovative solutions – this is what we are working on with our clients in 2019."

Tamás Lőcsei, Country Managing Partner, PwC Hungary

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Dr. Barbara Koncz

Dr. Barbara Koncz

Partner, PwC Hungary

Katalin Simon

Katalin Simon

PR Senior Manager, PwC Hungary

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