Only 22% of chief executive officers (CEOs) in Asia Pacific remain confident on the global economy’s growth prospects over the next three years, a significant drop from 67% reported in January, according to the 2020 KPMG Global CEO Outlook report. At the same time, the CEOs surveyed are more assured of the resilience of their own business, as 63% expressed confidence in their company’s growth for the same time period.
The report aims to measure how CEOs’ priorities and concerns have changed during the global pandemic by conducting two surveys, at the onset of the pandemic in January and a second survey in July/August. The study found business leaders have shifted their perspectives as businesses and governments around the world continue assessing the long-term impact of Covid-19, which translates to a shift in prioritizing digital transformation, talent and environmental, social and governance (ESG) factors at the top of their agendas during this period of uncertainty.
Datuk Johan Idris, Managing Partner of KPMG in Malaysia, commented that a majority of CEOs have undertaken critical measures to bolster their company’s medium-term resilience. He pointed out that this is evident by the decision to maintain business-as-usual activities by business leaders worldwide in response to the movement restrictions at the height of the crisis.
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