Nearly 60% of global CEOs expect increased economic growth over the next 12 months, marking a significant rise from 38% in 2024 and 18% in 2023, according to PwC’s 28th Annual Global CEO Survey presented at the World Economic Forum in Davos.
The survey reveals that 42% of chief executives plan to increase their workforce this year, more than double those forecasting cuts (17%). Smaller businesses and companies in technology, real estate, and pharmaceuticals are leading this expansion trend.
Despite the optimistic outlook, macroeconomic instability (29%) and inflation (27%) remain top concerns.
Geopolitical conflicts dominate concerns in the Middle East and Eastern Europe, while Western Europe and Africa prioritise cybersecurity threats and inflation.
About 42% of CEOs believe their companies will become unviable within a decade without significant transformation.
The survey found that 63% have already implemented transformative changes, with 38% entering new markets and 34% generating over 20% of revenue from these new ventures.
Regarding artificial intelligence, 56% of CEOs report increased employee productivity from generative AI, though only 34% achieved expected profitability improvements. About half plan to integrate AI into their technology platforms within three years.
Climate-related investments are showing positive financial returns, being six times more likely to increase rather than decrease revenue. However, CEOs cite regulatory complexity as a key barrier to further climate action.
PwC Cyprus will present findings from its 14th local CEO survey, involving 121 business leaders, on February 25, 2025.
