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Compared with last year, twice as many CEOs believe the global economy will improve in the next 12 months...
Dennis Nally, Chairman of PricewaterhouseCoopers International, presented some of the key findings of PwC's 17th Annual Global CEO Survey at a press briefing in Davos, Switzerland this week.
The number of CEOs who see improvement in the global economy over the next 12 months leapt to 44%, up from only 18% last year. And just 7% predict the global economy will decline, sharply down from 28% in 2013.
For their own companies, 39% of CEOs say they are 'very confident' of revenue growth prospects for the next 12 months. That's up from 36% last year.
But finding that growth has gotten tougher, some emerging economies are slowing down and it’s become increasingly clear that they’re diverging in their fortunes as each faces its own unique issues. At the same time, advanced economies appear to be on the mend, although they too face challenges. It’s clear that CEOs are struggling to interpret these signals, with many concerned about sluggish growth in both emerging and advanced economies.
So how are CEOs responding to the changing global footprint?
Nearly one third say their main opportunity for growth lies in existing markets, compared to just 14% who say the same for new geographic markets. Many leaders are also reviewing their portfolio of top overseas markets. This year CEOs see the US, Germany and the UK as more attractive than some of the BRICS markets, compared to last year. And they’re turning to newer markets to find growth as well – in particular Indonesia, Mexico, Turkey, Thailand and Vietnam.