What are CEOs feeling about the global economy?
Narrator: PriceWaterhouseCoopers recently published their Annual Global CEO Survey, where they polled over 1200 CEOs from around the world about the state of the global economy and its effect on business. ILSTV sat down with Dennis Nally, Chairman of PwC International and asked him about the survey’s key findings.
Dennis Nally: The key findings from our Global CEO Survey this year are that CEOs are less confident about the prospects for recovery. We polled over 1200 from all around the world and nearly half of them see a bleak outlook for the global economy over the next twelve month. CEOs are also less confident about the growth of their businesses compared to a year ago. Forty percent of CEOs told us they were very confident of growth in the next twelve months, which down from 48% last year.
But I have to tell you it’s not all doom and gloom. Despite worries about the economy, more than half of the CEOs tell us that they are planning to increase head count in 2012.
What are CEOs feeling about the global economy?
The CEOs we polled are clearly worried about the global economy. Nearly half believe that we will sink further in the next twelve months; with only 15% saying the global economy will improve in 2012. A major cause of concern is the on-going debt crisis in Europe. With more than half of the 1200 CEOs we surveyed saying their company had been financially effected by the debt crisis.
Where do CEOs see growth coming from in 2012?
In 2012 CEOs see growth coming from increasing share in existing markets and from the development of new products and services. The emerging markets continue to be a key growth opportunity as well. In fact, nearly 60% of CEOs say these growth markets are more important to their company’s future than the more developed economies. The BRIC countries of Brazil, Russia, India, and China top the list.
What are the major challenges CEOs see in the coming year?
One of the main challenges CEOs see in 2012 is finding and keeping the right talent. And you may find this really surprising given the rising levels of unemployment. But only 30% of CEOs told us they’re very confident that they will have access to the right talent needed to execute their company’s strategy in 2012. In fact, over 40% said it’s become more difficult to hire workers in their industry.
