Türkiye Edition: PwC’s 26th Annual Global CEO Survey

Winning today’s race while running tomorrow’s

This year, 4,410 CEOs from 105 countries and territories - including 87 CEOs from Türkiye - responded to PwC’s 26th Annual Global CEO Survey. Global CEOs face daunting near-term challenges, starting with the global economy, which nearly 75% believe will see declining growth during the year ahead. Forty percent of global CEOs think their organisation will no longer be economically viable in ten years’ time, if it continues on its current course.




Global CEOs


CEOs from Türkiye

“Global CEOs face today’s risks and aim to increase corporate resilience to be ready for the future. Leaders bring strategic decisions to the table to mitigate long-term risks that may affect the future of their businesses, and at the same time, they are aware that they should identify short-term risks and take precautions against these risks.”

Cenk Ulu | Territory Senior Partner, PwC Türkiye
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Today’s tensions

The most critical challenge facing CEOs in the short term is the state of the global economy. It isn’t surprising that three out of every four CEOs believe that global economic growth will decelerate in the next 12 months.The results are no different for Turkish CEOs. While 15% of them believe economic growth will increase, 77% of them expect a slowdown in global economic growth.

How do you believe economic growth (i.e., gross domestic product) will change, if at all, over the next 12 months in the global economy?

15% of Turkish CEOs believe economic growth will increase. This figure is well below the previous year’s optimism level.

CEOs in Türkiye

The confidence of CEOs in the growth of their companies has decreased drastically. Generally, CEOs feel more confident about their three-year revenue increase potential.Turkish CEOs are generally hopeful about their companies' for 12-monthly growth potential (47%), but this percentage was much higher last year (72%) Although, in contrast to short term estimations, participants feel more confident in their growth potential for the next three years (63%).

How confident are you about your company’s prospects for revenue growth over the next 12 months/next three years?

CEOs who replied ‘I am highly confident’ and ‘I am extremely confident’.

CEOs in Türkiye

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The race for the future

Global and Turkish CEO’s have common concerns: they believe that in the next 12 months the risks they will have to weather most will be inflation, macroeconomic volatility and geopolitical risk. Turkish CEOs' forecasts regarding the effects of inflation in the short term (74%) are higher than that of their counterparts around the world (40%).

CEOs have different opinions about the five-year mid-term outlook. For the mid-term, cyber threats and climate change join the expected important short-term risks. While globally CEOs are mostly concerned with macroeconomic volatility in the mid-term, Turkish CEOs prioritise geopolitical conflicts.

How exposed do you believe your company will be to the following key threats in?

CEOs who replied ‘highly exposed’ and ‘very highly exposed’

CEOs in Türkiye

CEOs see multiple challenges to profitability in their industry

To what extent do you believe the following will impact (i.e., either increase or decrease) profitability in your industry over the next ten years?

(CEOs who replied ‘to a large extent’ and ‘to a very large extent’)

CEOs in Türkiye

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Climate Change

CEOs from across the globe believe that in the next 12 months climate change risk will have more impact on their cost profiles and supply chains than on their physical assets. Turkish CEOs expect their cost profiles to be affected in a limited way (30%). Only 6% expect climate change to impact their physical assets significantly or on a large scale. 25% expect climate change to impact their supply chain significantly or on a large scale, while 34% expect a moderate impact. The survey suggests that CEOs who take the most action are those who believe they are most exposed to risks.

To what extent do you expect the following areas of your business to be impacted by climate risk in the next 12 months?

CEOs in Türkiye

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Geopolitical risk now ranks high on the agendas of CEOs. To minimise geopolitical risk, companies invest in supply chains, cybersecurity and empowering their assets in the market. The priority of Turkish CEOs who state they face geopolitical risk is either to find new markets or to develop strategies for complying with the current market (68%) As opposed to the opinions of CEOs from across the globe, cybersecurity and data privacy investments rank fourth for Turkish CEOs.

What actions, if any, is your company considering to mitigate against exposure to geopolitical conflict in the next 12 months?

CEOs in Türkiye

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CEOs need to maintain a balance between current matters on their agendas and the future to overcome the challenges they are facing, starting with their own calendars. Both global CEOs and CEOs from Türkiye focus on current operational performance. However, if they had the chance to start over with an empty schedule, they say they would spend time transforming the company and its strategy to meet the demands of the future.

During your work time, on average, what percentage of time do you spend on each of the following? Knowing what you know now, if you could start over with a blank calendar, how would you allocate your time as CEO?

CEOs in Türkiye

In case of transformation, CEOs focus mainly on technology and transformation-driven investments. 93% of CEOs in Türkiye plan to invest in process and system automation and 83% intend to invest in the cloud, artificial intelligence and other advanced technology applications. 75% say they will upskill employees in priority areas.

Which of the following investments, if any, is your company making in the next 12 months?

Base: Those respondents who are making an investment in one of the following in the next 12 months

CEOs in Türkiye

Contact us

Aslıhan Dellaloğlu Karacalı

Aslıhan Dellaloğlu Karacalı

Marketing and Communications, Director, PwC Turkey

Tel: +90 212 326 6570

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