While CEOs in Luxembourg feel they have plenty to worry about in the year ahead, their confidence in their own growth prospects and in the country’s growth stands high.
For the first time ever, PwC Luxembourg has asked CEOs in Luxembourg about the trends reshaping business and society. In this survey, PwC reveals that 51% of Luxembourg CEOs (global: 38%) are very confident about their company’s growth prospects in the next 12 months while 26% (global: 29%) believe global economic growth will pick up in 2017.
The findings released today show that while business leaders are more positive in their outlook, their levels of concern about over-regulation (95%), geopolitical uncertainty (91%) and cyber threats (76%) are very high.
John Parkhouse, CEO of PwC Luxembourg, comments:
“CEOs in Luxembourg are very confident about prospects for the local economy while holding a cautious view of the global state of the economy. They told us these three concerns were on top of their mind: succeeding in the 21st century will be redefined; embracing technology; and meeting stakeholders’ expectations means implementing various changes.”
Confidence in revenue growth
According to PwC’s survey, 51% of CEOs in Luxembourg are very confident about their company’s prospects for revenue growth over the next 12 months – a contrast to only 38% of global CEOs being upbeat about the immediate outlook for revenue growth.
This suggests that Luxembourg CEOs have confidence in the various government and private sector initiatives that aim at creating a new dynamic for the country, as well as in their company’s capacity to serve clients and continue being profitable in this uncertain environment.