The outlook for growth has been shifting over the past year in the Nordics. Reflecting the fact that Nordic economies have their own specific strengths to counter the outlook for a slowing global economy, Nordic CEOs are now notably more optimistic about their own company and countries’ growth versus that of the global economy.
In this uncertain world, it is significant that Nordic leaders are shifting the focus of their geographical expansion to emerging markets with a particular focus on Africa and the Middle East. In line with this, Nordic CEOs are expressing more misgivings about Brexit than their global counterparts. That is because Nordic exporters would likely face tariffs on their UK exports, and all Nordic countries have a surplus in their UK trade in goods.
As the findings of KPMG’s CEO Outlook 2019 show, Nordic CEOs have a strong focus and a can-do attitude about countering the risks of digital transformation and building a workforce of the future. While this has resulted in increased confidence about their growth perspectives, leaders in the Northern part of Europe are not becoming overconfident. They continue to realistically assess their companies’ needs, including their own leadership capabilities.
