The first edition of the PwC CEO Confidence Tracker was carried out during the third quarter of 2021, and involved over 50 CEOs of top local companies. The survey suggests that business in Malta has signalled a rebound during the past months and a significant majority of CEOs hold either a stable or positive outlook for the subsequent six months.
The backdrop to this feedback is a landscape dominated by the economic disruption brought about by COVID-19 pandemic and the Government’s footprint through a wide range of support measures, including wage supplements, loan guarantee schemes and vouchers. The backdrop was also influenced by a number of other factors, such as a summer season which appears to have propelled a marked level of business, the news of FATF’s Malta’s grey-listing and the expectation of a looming electoral campaign.
Fifty-two percent (52%) of CEOs have indicated that their business has performed better when compared to the previous quarter, and is a signal of the anticipated road to business recovery to the pre-pandemic scales. Forty percent (40%) of the respondents replied that the same level of business has been reported and only 8% stated that the business they lead performed worse when compared to the previous quarter.
Malta’s leading CEOs were also asked about their respective business outlook for the forthcoming six months. In what can be interpreted as an encouraging and resilient mood, 34% expressed an upbeat positive outlook and another 50% suggested that they hold a stable outlook. In contrast, 16% anticipate a subdued level of business in the next six months.
PwC Malta’s CEO Confidence Tracker aims to track business sentiment levels on an ongoing basis by soliciting feedback from Malta’s top CEOs in a wide range of industries, namely Financial services, Construction, Gaming, Hospitality, Import & Distribution, Retail and Manufacturing.
About PwC Malta
At PwC, our purpose is to build trust in society and solve important problems. We are a network of independent firms based in 156 countries and employing over 295,000 people. Talk to us about your concerns and find out more by visiting us at www.pwc.com and www.pwc.mt.
© 2022 PricewaterhouseCoopers. All rights reserved. ‘PwC’ refers to the Malta member firm, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details.