CEO optimism hits 10-year high – three-quarters expect a stronger global economy in 2022 according to PwC's 25th Annual Global CEO Survey
- 77% predict a stronger global economy in the coming year; only 15% expect weaker conditions
- Optimism about the global economy trends higher compared to last year in India, Japan, UK, France, Italy; somewhat lower in the US, China, Brazil, Germany
- Strong correlation is shown between customer trust and CEO confidence as well as whether a net-zero commitment has been made
- Cyber and health risks rank as top global threats followed closely by macroeconomic volatility
- CEOs identify the US as the most important growth destination globally over the next 12 months, followed by China
- Net-zero commitments are lagging for many – fewer than a quarter of CEOs said their companies have made a commitment
CEOs continued to face pressure generated by the ongoing COVID pandemic and market conditions such as rising inflation, supply chain disruptions and the 'Great Resignation' in parts of the world. Despite the array of shifting headwinds, the CEOs that we surveyed are the most optimistic they have been in 10 years about the prospects for a stronger economy in the coming year. More than three-quarters of CEOs, 77%, predict the global economy will improve, while only 15% expect worsening conditions.
CEO optimism for 2022 is a tick higher than the 76% optimism level from a year ago and fully 54 points higher than 2020 when more than half (53%) of CEOs predicted a declining economy. These are findings from PwC's 25th Annual Global CEO Survey, which polled 4,446 CEOs in 89 countries and territories between October and November 2021.
While there is general optimism among CEOs for economic growth in 2022, the perspective varies widely across individual countries and territories. Among the largest territories, optimism is highest in India, where 94% of CEOs anticipate global growth in the coming year, up from 88% last year. Optimism is also trending up solidly among CEOs in Japan (plus 16 points to 83%, from 67% last year), and is modestly higher in the UK (up five points to 82%). Italy and France saw large increases in CEO optimism, perhaps as a result of stronger than expected economic recoveries. CEO optimism in Italy reached 89%, up 18 points from a year ago, while France experienced the greatest increase in CEO optimism, soaring 25 points to 85%.
