60% of CEOs expect global growth

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Despite the ongoing uncertainty and unstable risk environment, CEOs paint an optimistic picture about growth. 60% of CEOs are confident that the global economy will grow.

The “2021 Global CEO Survey” of KPMG, which provides technology-based services in the fields of audit, tax, corporate finance and consultancy, has been published regarding the ongoing effects of the COVID-19 pandemic and expectations regarding economic recovery. During the course of the pandemic, the research prepared by regularly contacting business leaders from all over the world, compiled the developments and changing approaches around the world by taking the predictions of 1,325 CEOs from 11 important markets and 25 CEOs from Turkey.

According to the research results;

Despite ongoing uncertainty and an unstable risk environment, CEOs remain confident and optimistic about growth while maintaining strong commitment to their goals and seeking ways to drive growth.

  • Confidence in economic growth is growing: 60 percent of CEOs are confident that the global economy will grow (up from 42 percent in January/February this year). Despite the new variants slowing the return to normal, the confidence level of CEOs has returned to pre-pandemic levels in early 2020. In Turkey, the rate of those who think that the global economy will grow is 72.
  • Clear goals are set: At a time when the public expects leaders to make progress on social issues, 64 percent of the respondents say that the primary goal of their companies is to create long-term value for all stakeholders. He states that every job serves a purpose. In Turkey, this rate is 71 percent. In the January/February 2020 period, this rate was 54 percent.
  • Growth and the digital agenda are accelerating: 87% of global CEOs and 96% of CEOs in Turkey are confident that their companies will grow, and in this context, the company is in a position to achieve this growth and acquire digital competence. mergers and acquisitions are observed to be of critical importance.

Climate action should be taken

  • Responsibility for social issues is taken: 71 percent of global respondents and 64 percent of CEOs in Turkey CEOs are increasingly taking on personal responsibility for making progress in addressing societal issues. However, 56 percent of global CEOs and 28 percent of CEOs in Turkey admit that they may find it difficult to meet these expectations given the increasing pace of public, investors and governments’ expectations for diversity, equality and inclusion.
  • Collaborations are being made to strengthen sustainability: It seems that both companies and governments will need to take action to make progress on climate change. In this context, 30 percent of global CEOs and 68 percent of CEOs in Turkey state that they plan to use more than 10 percent of their income to invest in a more sustainable future. 75% of global CEOs and 80% of Turkish CEOs state that world leaders attending the COP26 climate change summit should give priority to the issue of climate.
  • ESG strategy is correlated with financial returns: 52 percent of CEOs in high-growth companies think ESG programs improve financial performance. In Turkey, this rate is at the level of 56 percent.

New partnership critical for digital agility

CEOs strengthen their companies’ digital advantage by building a more flexible future for work and acting within digital ecosystems.

  • Building a flexible future for work: CEOs need to decide on a future work model that is suitable for both employers and employees. Only 37 percent of the respondents say that the majority of their employees will work remotely at least two days a week, while 51 percent say they invest in shared office spaces. In Turkey, the rate of those who state that their employees will work remotely at least two days a week is 24 percent. On the other hand, the rate of those who state that they invest in shared office spaces suitable for flexible working is 40.
  • Those who create radical change are forced to change: CEOs make radical change. and they want to be ahead and in an advantageous position when it comes to innovation. 67 percent of global CEOs and 76 percent of CEOs in Turkey state that they will increase investments in disaster diagnosis and innovation processes.
  • Building partnerships for transformation and resilience: While 70 percent of global CEOs and 73 percent of CEOs in Turkey say that establishing new partnerships will be critical for the continuation of the fast pace of digital transformation, their approach is based on cybersecurity. It also does not ignore the inclusion of risk resilience.

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