Global CEO survey predicts a stronger 2022

According to PwC’s 25th Annual Global CEO Survey, which polled CEOs in 89 countries and territories in October and November 2021, CEO optimism around global economic factors is at its highest in a decade.

77% of the 4 446 CEOs surveyed predict improving conditions while only 15% expect the economy to worsen. Despite undesirable market conditions such as rising inflation, disruptions in the supply chain and COVID-19 headwinds, the report reveals that CEO optimism for 2022 is in fact a tick higher than the 76% optimism level from a year ago and fully 54 points higher than 2020 when more than half of CEOs predicted a declining economy.

However, it is worth pointing out that this view varies across individual countries and territories. Among the South African CEOs surveyed, 37% say they are “very confident” about their organisations’ prospects for revenue growth over the next 12 months, while for Africa as a whole, 85% of CEOs expect that global economic growth will improve and 8% expect it to drop. Optimism was highest in India with 94% of CEOs anticipating global growth in the coming year. The same perspective is seen in countries such as Japan (plus 16 points to 83%, from 67% last year), the UK (up five points to 82%), Italy (reached 89%, up 18 points from a year ago), and France (soaring 25 points to 85%).

The US, however, does not share this optimism – its levels dropped 18 points to 70%. The trend is the same for Brazil (down seven points to 77%), China (down nine points to 62%), and Germany (down four points to 76%). According to PwC, the trend may be attributed to the inflation and supply chain constraints that have become more of an issue.