Confident CEOs in troubled waters

PwC’s 9th Hungarian CEO Survey

While optimism about Hungarian economic growth is at an all-time low, 80% of CEOs remain confident about their company’s prospects for revenue growth.

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Insights about the Hungarian CEO Survey

In our video we present a summary of the views of 223 Hungarian CEOs on economic outlooks, their organisations’ growth prospects, the opportunities and challenges in upskilling their workforce, climate change, regulating cyberspace, and digital privacy.

Competitive environment

While optimism about Hungarian economic growth is at an all-time low, CEOs remain confident about their company’s prospects for revenue growth. Hungarian CEOs’ confidence in their own business is in line with the global mood.

CEOs are also confident about their company’s financial performance compared to competitors: more than half of them said they achieved better business outcomes than their competitors.

What is the basis for CEOs’ confidence in their revenue growth?

Upskilling is paramount

To upskill or not to upskill is no longer the question. What has emerged from this year’s survey, however, is not yet so obvious: that the CEOs of companies at the forefront of upskilling are more confident about both Hungarian and global economic growth.

Read more about the greatest challenges in upskilling

Decelerating globalisation: guard rails in cyberspace

Not surprisingly, when asked about which emerging technology areas are most important for business and government to collaborate on, CEOs ranked digital privacy and cybersecurity, in roughly equal measure, as the two most important areas, followed in third place by artificial intelligence.

Cybersecurity strategy shaping factors

Under the radar

In last year’s survey, the number of respondents citing climate change as a top threat doubled from the year before. This year, however, there was hardly any perceptible change, which means that the Earth’s future as a priority problem is no longer a top ten threat. Even though CEOs do not perceive climate change as a threat to their company’s growth, twothirds of them have recognised that investing in “green” initiatives provides a reputational advantage.

Read more about the list of top threats

"Now is not the time for business leaders to allow business conditions and trends to push them into short-sighted tactics. Now, more than ever, is the time to invest in people, better technologies and courageous innovations, even if it takes more bravery than it might have last year or a few years ago. As a leader you don’t have control over demographic trends. You need to come to terms with the skills shortage and talent flight and embrace the necessity for upskilling. If you strike now, while the iron is hot, you will forge a company made of solid relationships while building a more agile workforce.”

Tamás Lőcsei, CEO, PwC Hungary

About the survey

This is the 9th year PwC has conducted the Hungarian CEO Survey. Our survey is based on PwC’s Annual Global CEO Survey, which is now in its 23rd 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).

Contact us

Dr. Tamás Lőcsei

Dr. Tamás Lőcsei

Country Managing Partner, PwC Hungary

Dr. Barbara Koncz

Dr. Barbara Koncz

Partner, PwC Hungary

Katalin Simon

Katalin Simon

PR Senior Manager, PwC Hungary

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