- Optimism in global economic growth reaches record level and rises in all countries
- US reinforces its lead on China as a target market for growth in 2018
- Over half of CEOs expect their headcount to increase
- Terrorism, geopolitical uncertainty, cyber and climate change rise as threats to growth
DAVOS, Switzerland, 22 January 2018 – A record-breaking share of CEOs are optimistic about the economic environment worldwide, at least in the short term. That’s one of the key findings of PwC’s 21st survey of almost 1,300 CEOs around the world, launched today at the World Economic Forum Annual Meeting in Davos.
Fifty seven percent of business leaders say they believe global economic growth will improve in the next 12 months. It’s almost twice the level of last year (29%) and the largest ever increase since PwC began asking about global growth in 2012.
Optimism in global growth has more than doubled in the US (59%) after a period of uncertainty surrounding the election (2017: 24%). Brazil also saw a large increase in the share of CEOs who are optimistic global growth will improve (+38% to 80%). And even among the less optimistic countries such as Japan (2018: 38% vs. 2017: 11%) and the UK (2018: 36% vs. 2017: 17%), optimism in global growth has more than doubled since last year.
“CEOs’ optimism in the global economy is driven by the economic indicators being so strong. With the stock markets booming and GDP predicted to grow in most major markets around the world, it’s no surprise CEOs are so bullish,” comments Bob Moritz, Global Chairman, PwC.
Confidence in short-term revenue growth on the rise
Top countries for growth: Confidence in US continues, reinforcing lead on China
Jobs and digital skills: headcounts to increase; leaders concerned about availability of digital talent
Impact of technology on employment and skills
Threats to growth: CEOs fear wider societal threats they can’t control
Trust and leadership: CEOs divided over whether future economic growth will benefit the many or the few