Five Middle East key findings from the Global Crisis survey 2021
During the outbreak of COVID-19, business leaders have demonstrated the degree to which our region is closely integrated with the global economy. Crisis response plans largely followed the worldwide pattern, from the mass shift to remote working to the impact from disrupted international supply chains and subsequent localisation initiatives.
Middle East organisations also brought distinctive attributes based on historic and ongoing changes already impacting the region, which has enhanced their ability to manage the challenges of an unprecedented public health crisis.
Firstly, they have vast experience of coping in a dynamic and often disruptive environment at the epicentre of the five long-term forces – or megatrends – reshaping our world: demographic and social change; an eastward shift in global economic power; urbanisation; resource scarcity and climate change; and the rise of technology.
Secondly, Middle East businesses are committed to supporting the region’s ambition to build more diversified and digitised knowledge economies by the end of the decade with distinctive national visions, proactively tackling these key drivers of change and building a more adaptable and resilient future for our region.
These drivers are behind five of the key findings from the Middle East results.
Our survey shows that when it comes to technology, brand and reputation, and organisational resilience, Middle East respondents are more likely to be in a ‘better place’ than before the pandemic.
The dual shock of COVID-19 and falling oil prices has accelerated change in a region which was already undergoing profound, rapid transformation, propelling organisations to make further adjustments to their business and operating models to ensure resilient value preservation and creation. As an ability to deal with the unexpected becomes second nature, a new kind of tomorrow starts today.
1) 43% for the Middle East compared with 36% globally
2) 24th CEO Survey - Middle East findings https://www.pwc.com/m1/en/ceo-survey.html
3) TransAct 2021 https://www.pwc.com/m1/en/publications/transact-middle-east-2021.html
4) Global Consumer Insights Survey COVID-19 Pulse https://www.pwc.com/m1/en/industries/consumer-markets/sign-up-whats-next-for-middle-east-consumers.html
5) The GCC post-pandemic: Massive and fast transformation https://www.pwc.com/m1/en/assets/document/gcc-massive-fast-transformation-online.pdf
For guidance on how to help navigate your business through the uncertainty of the pandemic and maximise your options on the road to business recovery, please explore our Act now to recover materials or contact us directly.
Achraf El Zaim
Partner, Forensic Services Leader, PwC Middle East
Tel: +971 (0) 4 304 3132
Forensics Services Partner, PwC Middle East
Tel: +971 56 385 5946
Partner, Digital Trust Leader, PwC Middle East
Tel: +971 (0) 56 113 4205