75% of Indonesian CEOs plan to expand beyond their traditional industry boundaries in the next three years

Jakarta, 2 March 2026 – CEOs are stepping up their focus on business reinvention, even as near-term pressures test resilience, according to PwC’s 29^th Global CEO Survey. The survey is based on responses from 4,454 CEOs globally, including Indonesia. 

More than half of global CEOs (53%) plan to expand beyond their traditional industry boundaries over the next three years, reflecting a strong push to pursue new sources of growth amid a more complex risk environment. Across Asia Pacific, the appetite is slightly more cautious, with 37% of companies indicating plans to broaden into new sectors. In Indonesia, however, the intent is significantly stronger, with 75% of CEOs planning to expand beyond their core industries. Within Indonesia, expansion efforts are expected to focus on fast‑moving and adjacent industries such as technology (22%), power and utilities (17%), hospitality and leisure (16%), transportation and logistics (15%), and engineering and constructions (14%). 

CEOs who have already moved into new sectors in the last five year are seeing tangible returns. Indonesia stands out as the most active in diversification, with 56% of CEOs saying they have expanded into industries where they had not previously competed—up from 45% the year before. This level of movement surpasses both the global of 42% and Asia Pacific at 29%. The returns have been meaningful: companies that have competed in new sectors over the past five years generated an average of 20% of their revenue from these areas, with global companies averaging 20%, Asia Pacific companies 19%, and Indonesia recording the highest contribution at 22%. 

CEO sentiment shows signs of softening in the near term. Globally, 61% of CEOs expect economic conditions to pick up over the next 12 months, while in Asia Pacific the proportion is slightly lower at 59%. This more measured outlook is also visible in revenue expectations. Globally, 30% of CEOs report taking a forward‑looking view of their revenue prospects for the year ahead—down from 38% in 2025. In Asia Pacific, the level of expectation has moderated more significantly, declining from 34% in 2025 to 21% in 2026. 

Indonesian CEOs are taking a more cautious near‑term view. Only 51% expect global economic conditions to improve, and expectations around their own revenue outlook have eased from 35% last year to 32% this year. This signals a more measured stance as leaders balance uncertainty with the need to sustain long‑term transformation.  

What’s driving this more cautious outlook? Across global, Asia Pacific and Indonesia CEOs, macroeconomic volatility emerges as a shared concern, cited by 31%, 33% and 27% respectively. Cyber threats also feature prominently, particularly among global and Asia Pacific leaders (31% and 39%), and remain a rising area of attention in Indonesia (21%). In addition, capability gaps, including talent and skills, continue to challenge Indonesian organisations, with 24% of CEOs highlighting skills shortages as a key barrier to future readiness. On tariffs, an issue that was highly discussed last year, the level of concern among global CEOs (20%) is lower compared with those in Asia Pacific (24%) and Indonesia (23%). However, for Indonesian CEOs, the impact appears limited: more than half (56%) expect tariffs to bring little to no change to their company’s net profit margin over the next 12 months. 

Sri Nair, PwC Asia Pacific Chairman, commented: “2025 tested global resilience with slower growth, lingering inflation, and ongoing geopolitical and trade uncertainty. While Asia Pacific continues to lead global economic momentum, risks, from escalating tariffs and vulnerable supply chains, continue to cloud near-term corporate performance. They threaten to consume the attention of top management, distracting them from the deeper structural shifts already reshaping the global economy. In this evolving landscape, CEOs who succeed will act with intent—looking beyond traditional industry boundaries, connecting capabilities in new ways, and positioning early for the next sources of growth.” 

Amid these external pressures, CEOs are also turning inward to assess whether their organisations are equipped to keep pace with the scale and speed of change. Our survey shows that short‑term issues continue to dominate CEOs’ schedules — with 84% globally, 79% in Asia Pacific and 84% in Indonesia focusing mainly on short‑ to medium‑term priorities (0–5 years). This raises an important question about how much capacity remains for the long‑term transformation they recognise as critical. 

This near-term focus shows up in CEOs’ capital allocation decisions: 

• Over the next 12 months, 64% of Indonesia CEOs and 60% of Asia Pacific CEOs do not plan to make any international investments, compared with 46% globally. Among those who do plan to invest abroad, Indonesia CEOs are prioritising Singapore, Malaysia, and Chinese Mainland while Asia Pacific CEOs are more likely to look towards the United States, Vietnam, and Chinese Mainland. 
• Global and Indonesian CEOs (41%) are more likely to pursue at least one major acquisition over the next three years, outpacing the regional figure of 28%. 

Artificial intelligence is delivering, but not uniformly 

Asia Pacific CEOs are seeing value from AI. Nearly four in ten (39%) report that AI has driven additional revenues over the past 12 months, ahead of global peers (30%). And 26% are also seeing tangible cost reductions. Some are achieving both at the same time (15%). They are turning AI into a true performance lever, using it to grow revenues while lowering costs. Half report little to no financial upside at all. 

Global CEOs are beginning to see early signs of value from AI, with 30% reporting that it has increased revenues over the past 12 months and 26% experiencing cost reductions. A smaller group (12%) have achieved both outcomes simultaneously. 

In Indonesia, 22% of CEOs say AI has increased revenues, while 28% report cost reductions. Only 10% have realised both benefits at the same time, suggesting AI value is emerging but at a more gradual pace compared with regional and global peers. 

Eddy Rintis, PwC Indonesia Territory Senior Partner, added, “The relatively modest AI benefits seen in Indonesia reflect a clear gap between intent and execution. Many organisations have supportive cultures and enabling the integration of AI, at 63% and 57% respectively, but far fewer have the practical foundations needed to convert adoption into financial value, from comprehensive data access (24%) and sufficient investment (32%) to formalised Responsible AI processes (36%) and the ability to attract high‑quality technical AI talent (37%). Closing these gaps will be critical for Indonesian businesses to unlock AI’s full potential and compete more effectively on a regional and global stage.”