Canadian Manufacturing

According to a PwC survey, more than three quarters of CEOs confident about the global economy

About 36 per cent of CEOs plan to use automation and technology to make their workforce more competitive, more than double the share of CEOs who said the same in 2016.

March 11, 2021  The Canadian Press

More than 5,000 chief executives globally expressed record optimism about economic growth a year after the World Health Organization declared COVID-19 a global pandemic, suggests a PwC survey.

The survey of 5,050 CEOs in 100 countries conducted earlier this year found 76 per cent forecasted improved economic growth in 2021.

The result is up from 22 per cent last year and 42 per cent in 2019.

“After a year of human tragedy and extensive economic hardship, it is encouraging to see that the people responsible for making investment decisions and hiring staff are feeling cautiously optimistic about the year ahead,” stated Bob Moritz, chairman of the PwC Network.

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“CEOs have faith that growth will return, boosted by the rapid development of vaccines and their rollout in many parts of the world.”

It represents the highest level of optimism since the survey started asking this question in 2012.

Optimism was particularly strong in North America and Western Europe, at 86 per cent and 76 per cent, respectively.

CEOs in the technology and telecommunications sectors expressed the highest levels of confidence at 45 per cent and 43 per cent, respectively. Meanwhile, chief executives in hospitality and leisure were least confident at 27 per cent, followed by transportation and logistics at 29 per cent.

Rising digitization is increasing the risks posed by cyber threats. A significant increase in cybersecurity incidents in 2020, including ransomware attacks, has resulted in cyber threats leaping up the list to become the second-biggest concern, cited by 47 per cent of CEOs, up from 33 per cent in 2020.

About 36 per cent of CEOs plan to use automation and technology to make their workforce more competitive, more than double the share of CEOs who said the same in 2016.


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