24th CEO Survey Insights
Expected recovery and cautious optimism
Following a year of uncertainty brought by COVID-19, across the globe 76% of CEOs express optimism for the economic growth in the coming 12 months – a significant increase from only 22% last year and, in fact, a record high rate over the last decade. Unlike previous years, Bulgarian CEOs are more cautious as only 58% of them express expectations that global economic growth will improve this year. Although this marks a positive dynamic since last year, the gap to their CEE and especially global peers is quite notable.
Confidence in performance is shaken but high
Bulgarian CEOs seem to have greater belief in their own organizations' resilience than in the overall economic outlook. They not only forecast revenue growth for their organisations for the next 12 months, but also they display a good level of confidence in their expectations. 83% of the Bulgarian CEOs are confident or very confident in their growth prospects – and even more (86%) when talking about the mid-term development.
What threatens growth?
Not surprisingly, this year a new risk, pandemics and other health crises, has emerged at the top of the list. Locally, the availability of key skills continues to be in the top 3 threats according to business leaders, much higher in priority compared to the global and CEE CEOs. In addition, Bulgarian survey participants prioritise the threat of declining health and well-being of their workforce fairly high (#6 in ranking among all risks). The deficit in skilled labour in the Bulgarian market makes CEOs more anxious about preserving intact their existing trained workforce.
The past year proved that it is the strong management and leadership skills which drive organisations forward.
of the Bulgarian CEO survey participants believe that the global economic growth will improve in the next 12 months.
of the Bulgarian CEO survey participants expect that their organization’s revenue will grow in the next 12 months.
of the Bulgarian respondents confirm to be making changes in their organisational purpose to better reflect the role they play in society.
of the Bulgarian CEO Survey participants declare that they will invest significantly in the next 3 years in digital transformation.
Marketing & Communications Manager, PwC Bulgaria