January 17, 2024
DHAKA – Though more chief executives believe global economic growth will improve this year, almost half see their businesses becoming nonviable in a decade as tech and climate pressures accelerate, according to a PricewaterhouseCoopers (PwC) survey.
Some 38 percent of CEOs are optimistic about global growth prospects whereas last year it was 18 percent, as concerns about inflation and macroeconomic volatility fall, said the global audit, consulting and tax services firm.
Meanwhile, 45 percent are concerned about their long-term business viability, up from 39 percent in 2023, said the survey published yesterday.
The study interviewed 4,702 chief executives across 105 countries and territories.
Despite ongoing conflicts, the proportion of CEOs who felt their company is highly or extremely exposed to geopolitical conflict risk fell 7 percentage points to 18 percent, it said.
“CEOs expect more pressure over the next three years than they experienced over the previous five from technology, climate and several other megatrends,” said the PwC in a statement.
Four in 10 CEOs report that they have accepted lower returns for climate-friendly investments, it said.
It said 70 percent of CEOs expect generative artificial intelligence to significantly change the way their company creates value in the next three years.