At the World Economic Forum in Davos, Switzerland, PwC released its 2010 Annual Global CEO Survey report.
Generally, things look a lot better this year than in 2009. In the survey of 1,200 chief executives in 52 countries, 81 percent are confident about revenue prospects for the next twelve months, up from 64 percent a year ago. And 31 percent are “very confident,” up 10 percentage points from last year’s low.
The jobs picture remains murky. Even though almost 40 percent of the respondents plan to increase headcount in 2010, 25 percent plan more job cuts. But this is down from nearly half who axed jobs last year.
In spite of their general optimism, CEOs see a “multi-speed” recovery, which is jargon for differing economic growth rates in different parts of the world. CEOs expect stronger growth in developing nations, where labor costs are lower, than in the developed ones.
Overall, the picture is one of guarded optimism. The global market is still awash in government-supplied capital to spur investment and lending, and to improve liquidity. What remains is for executives to redouble their investments in innovation, focus on growth, not cost control, and to be willing to take risks once again.
Read the 13th Annual Global CEO Survey.
