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MENAFN - Khaleej Times - 23/01/2014
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(MENAFN - Khaleej Times) Corporate leaders in the Middle East and Western Europe are the most confident about short-term global economic prospects in line with signs of improving conditions, according to a key gauge that compiles the views of hundreds of leading executives from across the world

CEOs in the Middle East, 69 per cent, are also the most confident of short term revenue growth, up from 53 per cent last year. They are followed by those in Asia Pacific at 45 per cent, up from 36 per cent last year. Across the globe, some 39 per cent of CEOs say they are 'very confident' of revenue growth prospects for their own companies over the next 12 months. That is up from 36 per cent last year

While 49 per cent of CEOs from the Middle East who took part in PricewaterhouseCoopers' 17th Annual Global CEO Survey sounded upbeat about the short term global prospects, 50 per cent of corporate heads from Western Europe concurred.

On the short term global prospects, corporate leaders in the Middle East and Western Europe are followed by those in Asia Pacific (45 per cent), Latin America (41 per cent), North America (41 per cent) and Africa (40 per cent). CEOs in Central and Eastern Europe show the lowest level of confidence at 26 per cent

Globally, corporate leaders felt much more bullish about the global economy's short-term prospects than they did a year ago, according to a gauge that canvasses the views of hundreds of leading executives in dozens of countries

The Global CEO Survey, released at Davos ahead of the annual meeting of the World Economic Forum kicked off on Wednesday, reveals that 44 per cent of corporate bosses around the world now expect to see an improvement in the world economy over the next 12 months compared to only 18 per cent in last year's survey

Howwever, only seven per cent of corporate leaders think the global economy will become unstuck in 2014 compared to 28 per cent in 2013

By industry, CEOs in the hospitality and leisure sector are most confident about prospects for the next 12 months (46 per cent), followed by those in banking and capital markets (45 per cent), retail (44 per cent), financial services (44 per cent), asset management (44 per cent) and communications (44 per cent)


Khaleej Times

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