PwC: Most company CEOs in Romania are optimistic regarding GDP growth in 2022

CEO confidence in the global economy’s growth prospects is at a ten-year high globally, according to the 25^th PwC CEO Survey. Of the respondents, 77 percent expect the global economy to improve in 2022 compared to last year.

“While facing pressure from the COVID-19 pandemic and volatility from rising inflation, supply chain disruptions and the wave of employee resignations, global executives are starting 2022 with optimism. In Romania, the majority of CEOs (59 percent) believe that the national Gross Domestic Product will improve this year compared to last year. That perception shows us that many businesses are solid, have conditions for growth and expect higher revenues this year”, said Dinu Bumbacea, Country Managing Partner PwC Romania.

Confidence rising in revenue growth prospects globally over the next 12 months, on the rise

More than half of the respondent CEOs also report high levels of confidence in their own companies’ prospects for revenue growth over the next 12 months. They are led by CEOs of private equity (67 percent) and technology companies (64 percent), with both sectors continuing to benefit from large inflows of capital.

At the other end of the spectrum, CEOs in the automotive (46 percent) and hospitality and leisure sectors (44 percent) are grappling with semiconductor shortages and the lingering effects of the pandemic on travel, respectively.

Cybersecurity tops the concerns agenda

The significant increase in cybersecurity incidents over the past two years and accelerated digitalisation across all industries have propelled cyberthreats to the top of global concerns list, with 49 percent of CEOs reporting such threats as being top of their agenda, compared to 47 percent last year and 33 percent in 2020.

The global health situation as the pandemic lingers, mentioned by 48 percent of executives, and macroeconomic volatility (fluctuating GDP growth, inflation and unemployment) are next on the list of threats.

Despite rising interest in ESG, strategy is still primarily driven by business metrics

Most CEOs include goals related to customer satisfaction, employee engagement and automation or digitalisation in their long-term strategies. Those non-financial outcomes are intertwined with day-to-day business performance.

Targets related to GHG emissions, gender representation and ethnic diversity appear less in those strategies and compensation packages.

Just 22 percent of our respondents have made a net-zero carbon commitment. An additional 29 percent are working towards making a net-zero carbon commitment.

Other findings in the report

• CEO optimism for 2022 is slightly higher than the 76 percent optimism level expressed a year ago and fully 54 points higher than in 2020, when most were pessimistic.
• Global economic optimism is higher than last year in India, Japan, UK, France and Italy.
• CEO optimism regarding the global economy has fallen the most in the US, Brazil, China and Germany.

Conducted at the end of last year, the CEO Survey 2022 explores the views of 4,500 executives from around the world, including Romania. The full CEO Survey 2022 report for Romania will be published in the coming period.