Swiss business leaders see opportunities in the United States and Germany but are more cautious than the rest of the world in expressing optimism for continued growth, according to this year’s Global CEO Survey released ahead of this year's World Economic Forum meeting in Davos.
The annual survey, conducted by the firm PricewaterhouseCoopers (PwC), showed that 72% of CEOs in Switzerland saw technological advances, demographic changes and global economic conditions as the top factors influencing the future of their businesses. Some 16% of those surveyed were “very confident” and 50% were “confident” that their company would continue to see growth in the next year.
Compared with a similar survey of worldwide CEOs, fewer Swiss business leaders were “very confident” in continued growth. Globally, 35% of those surveyed expressed high growth confidence.
Swiss CEOs especially saw potential to grow their businesses through markets in the US, Germany and China.
They viewed over-regulation, geopolitical instability and the euro debt crisis as posing the biggest challenges for their companies’ growth. Those were followed by concerns over exchange rate volatility, which 66% thought might prove a hindrance.
Urs Honegger, CEO of PwC Switzerland, said that business leaders in his country are more cautious than in the rest of the world, also because of the lifting of the euro-Swiss franc peg a year ago.
“Still, they see potential for growth,” he said. “Technological advances are opening up new possibilities, such as in the field of data analysis which allows companies to quickly recognise new opportunities.”
PwC interviewed 1,409 CEOs for the 19th edition of its annual survey.
swissinfo.ch and agencies