DGAP-News

CEOs' Confidence Rises for 2014 - Seite 2

confident of revenue growth, followed by Mexico (51%) and Korea 50%. Korea has
had a huge swing in confidence up from only 6% last year. They are followed by
India (49%), China (48%), Switzerland (42%), Brazil (42%), US (36%), Germany
(33%), UK (27%), Canada (27%), Japan (27%), Italy (27%), France (22%) and,
finally Argentina where only 10% of CEOs are very confident of revenue growth
in 2014. (see note 2)

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Commenting on the survey results, released at the opening of the World Economic
Forum's annual meeting in Davos, Switzerland, Dennis M. Nally, Chairman of
PricewaterhouseCoopers International, said:

'CEOs have begun to regain confidence. They've successfully guided their
companies through recession and now more CEOs feel positive about their ability
to increase their revenues and prospects for the global economy. However, CEOs
also acknowledge that generating sustained growth in the post-crisis economy
remains a challenge, especially as they deal with changing conditions like
slowing growth in the emerging markets.

'And worries continue to loom large on CEO horizons with CEOs sending a clear
message to government with their levels of concerns about over-regulation,
fiscal deficits and tax burdens at their highest levels.

'For the future, CEOs tell us that they expect three major global trends -
rapid technological advances, demographic changes and shifts in economic power
- will have a major impact on the future of their businesses. Finding ways of
turning these global trends to their advantage will be the key to future
success.'

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CEO top concerns

As CEOs' viewpoint on the economy slants upward, their major concerns have also
changed. Government action, or the lack of it, tops the list of CEO worries.
The level of concern about over-regulation at 72% and fiscal deficits at 71%
are as high as they have ever been. Countries where CEOs are particularly
worried about over regulation include France 88%, Australia 85%, India 82% and
Germany 77%. In the US it is fiscal deficits that have CEOs most worried with
92% CEOs expressing concern, followed by Argentina at 90% and France at 84%.

In addition, CEOs say they are worried almost as much about a slowdown in
emerging economies, 65%, as they are about sluggish growth in developed
markets, 71%. Other top concerns include increasing tax burdens (70%), as well
as availability of key skills (63%), exchange rate volatility (60%) and lack of