Though a worldwide survey of CEOs shows a gloomy outlook for the global economy, leaders of Hungarian firms are bucking the trend, indicating more optimism than the world average, according to an announcement released this afternoon by PwC.
“CEOs in Hungary are more optimistic than their counterparts in other countries about both the global economy (54%) and their own growth prospects for the next 12 months (39% are very optimistic, 45% are optimistic). The question is how this optimism is helping Hungarian CEOs grapple with complex business situations,” according to Nick Kós, PwC Hungary’s Country Managing Partner (pictured).
The results of PwC’s Annual CEO survey, “Redefining business success in a changing world”, which is based on interviews with 1,400 CEOs worldwide, was published yesterday at the opening of the World Economic Forum Annual Meeting in Davos, Switzerland.
Worldwide, “two-thirds of CEOs (66%) see more threats facing their businesses today than three years ago. Just over a quarter (27%) believe global growth will improve over the next 12 months, a decline of ten points on last year. In addition, findings from PwC’s Annual Global CEO survey show only slightly more than a third (35%) are very confident of their own company growth in the coming year, down four points on last year (39%), and even one point below 2013,” said today’s announcement about the report. “China’s economic rebalancing, crude oil price falls, and geopolitical security concerns are all impacting an overall increase in uncertainty about the global economy’s growth prospects. Globally, only just over a quarter (27%) of CEOs think global growth will improve over the next 12 months, compared to 37% last year, while 23% think it will worsen (2015: 17%).”
But as for Hungary, things are different, according to Kós. “We have begun analysing the data collected in the Hungarian CEO Survey, which we will present in March. It is already clear that there is a difference in the level of optimism between Hungarian CEOs and their global colleagues,” he said.