24th Annual Global CEO Survey
For business, 2021 will be a year of reinvention. One year into the COVID-19 pandemic, PwC conducted its traditional Annual Global CEO Survey for the 24th time this year.
We surveyed 5,050 CEOs from 100 countries and territories around the world about their plans to respond to new threats, transform their operating model and create a more sustainable future.
An improved outlook
CEOs report record-high optimism about the global economy, with 76% believing growth will improve in 2021, a nearly 20 percentage point increase from the previous record high for optimism.
And CEOs’ optimism extends to their own company’s performance: Globally, 36% say they are very confident about their organisation’s prospects for revenue growth over the next year. This is a reversion to the long-term mean—and a significant rebound from our 2020 survey, which was completed well before the pandemic began.
Danger lurking online
Cyber has fast become a major source of anxiety, and is now the second highest concern among CEOs—topped only by pandemics. It was selected as an extreme concern by 47% of CEOs, compared with 33% in 2020. Also of greater concern this year is misinformation (28% are ‘extremely concerned’, up from 16% in 2020).
The rise of these two threats coincides with nearly half of CEOs’ plans to increase their investments in digital transformation by 10% or more.
The climate change challenge
Last year, 24% of CEOs selected climate change as an extreme concern; this year, it was selected by 30%. This may seem like a notable jump, but in the context of rising anxiety about nearly all threats, it represents just a marginal increase.
What’s more, 27% of CEOs report not being concerned about climate change; and 60% of CEOs have not factored it into their strategic risk management activities.
Our research findings reveal that worldwide CEOs participating in our survey, including Turkey, express similar expectations with each other. This indicates that the business world considers 2021 as a year for rebound.
70 Turkey CEOs participated in the 24th Annual Global CEO Survey.
Majority of Turkey CEOs (70%) are optimistic about global economic growth and also confident in their own organisation’s growth prospects.
While climate change is ranked 9th among the global threats with 30%, the Turkish business world takes it more seriously by ranking it at the 5th place. The approach of Turkey CEOs affects the post-COVID-19 investment plans, and positions ESG as a priority.
Digital transformation investments are holding strong. Majority of Turkey CEOs (77%) plan to increase long-term digital transformation investments. Although cyber threats are considered less risky, cyber security and data privacy investments hold place on the budget planning of Turkey CEOs (73%).
%64 Pandemics and other health crises
Pandemics is also the top threat for Turkey CEOs
%63 Exchange rate volatility
Exchange rate volatility is an issue which distinguishes Turkey CEOs from their global peers
%56 Policy uncertainty
Turkey CEOs are on the same page with global CEOs about policy uncertainty
%51 Climate change
Turkey CEOs consider climate change more seriously compared with global CEOs
Marketing and Communications, PwC Turkey
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