According to the 2020 KPMG Global CEO Outlook report, only 22 percent of CEOs in Asia Pacific remain confident about the growth prospects of the global economy over the next three years (a significant drop from 67 percent in January 2020). But on a more positive note, CEOs are much more assured in the resilience of their own business as 63 percent expressed confidence in their company’s growth for the same time period.
A clear result from the study reveals that business leaders have radically shifted their perspectives as businesses and governments around the world continue assessing the long-term impact of COVID-19. During this period of unprecedented uncertainty, CEOs are prioritizing digital transformation, talent and ESG (Environmental, Social and Governance) factors at the top of their agendas.
Additionally, KPMG’s survey also found that 76 percent have had to re-evaluate their organization’s purpose as a result of the COVID-19 crisis.
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