PwC: 23rd Annual Global CEO Survey

PwC’s 23rd Annual Global CEO Survey involved 1 581 chief executives in 83 territories.

25 March 2020 | Business

Only 27% of CEOs are ‘very confident’ in their prospects for revenue growth in 2020, a low level not seen since 2009. - PwC

Nangula Uaandja - What a difference two years can make.

In 2018, PwC’s Annual Global CEO Survey revealed a record level of optimism regarding worldwide economic growth.

This year, as CEOs look ahead to 2020, we see a record level of pessimism.

For the first time, more than half of the CEOs we surveyed believe the rate of global GDP growth will decline.

This caution has translated into CEOs’ low confidence in their own organisation’s outlook. Only 27% of CEOs are “very confident” in their prospects for revenue growth in 2020, a low level not seen since 2009.

What is clouding the view from the top?

In a word, uncertainty.

Conducted in September and October of 2019, PwC’s 23rd Annual Global CEO Survey, which involved 1 581 chief executives in 83 territories, explores the sources and manifestations of uncertainty and how CEOs are taking action to address it.

Four key themes emerged:

Growth

Uncertainty undermines outlook: In every region, CEOs report increased pessimism in global economic growth. And in almost every region, they show significantly diminished confidence in their own organisation’s 12-month revenue growth prospects.

Technology regulation

Setting up guard rails in cyberspace: A majority of CEOs surveyed foresee increasing legislation around online content, data privacy and dominant tech platforms. As a result, it is likely that the internet will become more fractured.

Upskilling

To upskill or not to upskill is no longer the question: Only 18% of CEOs believe their organisation has made “significant progress” in establishing an upskilling programme. However, those who have embraced upskilling are realising better returns and are more confident in their growth prospects.

Climate change

An opportunity cloaked in crisis: Compared with ten years ago, CEOs today are far more likely to see the benefits of going ‘green,’ such as reputational advantage, new product and service opportunities, and government or financial incentives.

To access the full report, go to the following link https://www.pwc.com/ceosurvey.

Stay up to date with PwC’s insights and publications, by subscribing to our newsletters today. www.pwc.com/na/en/about-us/subscriptions.html

· Nangula Uaandja is PwC Namibia’s country senior partner. Contact her as [email protected]

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