Selangor Journal
Picture shown for illustration purposes only. — Picture via BERNAMA

Economic optimism doubles but tech, climate pressure also rises — PwC

DAVOS, Switzerland, Jan. 16 — Economic optimism has more than doubled year-on-year but almost half of chief executive officers doubt the viability of their businesses as tech and climate pressures accelerate, a new PricewaterhouseCoopers (PwC) survey presented at the World Economic Forum (WEF) in Davos on Monday showed.

CEOs’ optimism about global growth prospects has grown from 18 to 38 per cent compared to last year as concerns about inflation and macroeconomic volatility are easing, PwC’s 27th Annual Global Chief Executive Officer Survey revealed, reported Xinhua.

Up to 39 per cent of global chief executives said they expect their company’s headcount to increase by 5 per cent or more in 2024.

However, the survey also showed that confidence is fragile with 45 per cent not believing that their business will be viable in a decade without reinvention, up from 39 per cent in 2023.

Meanwhile, chief executive officers expect more pressure over the next three years due to such challenges as technology and climate.

The survey, which interviewed 4,702 chief executive officers across 105 countries and territories, also showed that four in ten chief executive officers have accepted lower returns for climate-friendly investments.

PwC is one of the so-called “Big Four” accounting firms alongside EY, KPMG and Deloitte. PwC has offices in 151 countries and regions and employs almost 364,000 people, according to its website.

— Bernama

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