DGAP-News

CEOs' Confidence Rises for 2014

DGAP-News: PwC /
CEOs' Confidence Rises for 2014

21.01.2014 / 20:33

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Twice as Many Say Global Economy to Improve; 39% Strongly Predict Company Growth

Worries about over-regulation, fiscal deficits, tax policy higher than ever

Half of CEOs plan to increase the size of their workforce

DAVOS, Switzerland, Jan. 21, 2014 (GLOBE NEWSWIRE) -- Twice as many CEOs around
the world as last year believe the global economy will improve in the next 12
months, and 39% say they are 'very confident' their company's revenues will
grow in 2014, according to PwC's 17th Annual Global CEO Survey.

Global economy

The number of CEOs who see improvement in the global economy over the next 12
months leapt to 44%, up from only 18% last year. And just 7% predict the global
economy will decline, sharply down from 28% in 2013.

Regionally, CEOs in Western Europe are the most confident about short-term
global economic prospects (50%), in line with signs of improving conditions.
They are followed by those in the Middle East (49%), Asia Pacific (45%), Latin
America (41%), North America (41%) and Africa (40%). CEOs in Central and
Eastern Europe show the lowest level of confidence at 26%.

By industry, CEOs in the Hospitality and Leisure sector are most confident
about prospects for the next 12 months (46%), followed by those in Banking and
Capital Markets (45%), Retail (44%), Financial Services (44%), Asset Management
(44%), Communications (44%), and Engineering & Construction (41%). CEOs in the
Metals industry are least confident at 19%.

Revenue growth

For their own companies, 39% of CEOs say they are 'very confident' of revenue
growth prospects for the next 12 months. That's up from 36% last year.
Confidence in revenue growth reached a low of 21% in 2009.

CEOs in the Middle East, 69%, are the most confident of short term revenue
growth, up from 53% last year. They are followed by those in Asia Pacific at
45%, up from 36% last year.

In Western Europe, confidence has risen 8% from last year's trough to reach
30%. But in Africa confidence has continued to fall. Just 40% of African CEOs
are very confident of 12-month growth, down from 44% last year and 57% in 2012.
Confidence has also dipped among Latin American CEOs, to 43%, down from 53%
last year. Meanwhile, CEO confidence in North America remains flat at 33%.

At an individual country level, confidence varies very widely: the highest
levels of CEO confidence are found in Russia, where 53% of CEOs are very