Foreword
As we present the findings of PwC’s 29th Annual Global CEO Survey, Mongolian CEOs express greater optimism about domestic economic growth. concerns around geopolitical risk, inflationary pressures, and widening skills shortages persist. These pressures are reinforcing the need for ongoing business reinvention.
Reported by 4,454 CEOs globally, including 30 in Mongolia the path forward is clear: they must choose to act decisively now—either by accelerating their transformation efforts to blaze new trails and capture emerging opportunities, or by skillfully refining their current operations with strategic adjustments, ensuring their business models remain on course in an AI era redefined by innovative value creation.
The global landscape is evolving rapidly, particularly in view of changes in AI and climate change, and Mongolian CEOs similarly to our last year's findings are ever ready for business reinvention. Majority of the Mongolian CEOs are investing in generative AI, making climate-friendly investments, preparing new acquisitions and embracing solutions to transform their business models amid significant market shifts.
In closing, I extend my heartfelt thanks to the CEOs who generously shared their time and valuable insights for this year's survey and hope that you find this report informative and insightful.
Shaukat Tapia
PwC MongoliaCountry Managing Partner
Key Findings:
- Mongolian CEOs express strong optimism about domestic economic growth in 2026, with 87% expecting improvement and zero anticipating decline.
- Economic growth in Mongolia is forecasted at 5.7% in 2026 and around 6.0% in 2027, driven primarily by mining (especially Oyu Tolgoi copper production) and agriculture recovery.
- Key risks identified include a sharp rise in cyber threats (25% of CEOs concerned), macroeconomic volatility (15%), and critical skills shortages (30%), with cyber risk growing due to increased AI and digital adoption.
- Geopolitical conflict risk perception dropped significantly to 15% in Mongolia, contrasting with a global rise.
- CEOs display high confidence in near-term and medium-term revenue growth; 92% are very or extremely confident over the next three years.
- Leadership readiness to manage disruption is strong, with over 60% prepared to anticipate and respond effectively, and 87% confident to capture new opportunities arising from disruptions.
- 67% of Mongolian CEOs actively compete in new sectors, reflecting strategic diversification to manage sector risks and seize growth opportunities.
- AI adoption is expected to lead to stable or growing employment at senior and mid-levels and a significant growth in junior-level employment in Mongolia, unlike the global trend of AI reducing entry-level roles.
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Shaukat Tapia
Sergi Kobakhidze
Tax and Legal Services Partner, PwC Mongolia
Tsendmaa Choijamts
Battuya Tsagaanchuluun
Director, Assurance Services, PwC Mongolia
Enkhzul Jambal
Senior Manager, Tax and Legal Services, PwC Mongolia
Munkhbaatar Enkhbat
Senior Manager, Broader Assurance Services, PwC Mongolia
Munkhjargal Ragchaakhuu
Bilguun Batdalai
Senior Manager, Assurance Services, PwC Mongolia
Enkhsanaa Erdene-Ochir
Senior Manager, Tax, PwC Mongolia
Anujin Amar
