For the 20th anniversary of its global CEO Survey, PwC Luxembourg decided to break new ground and take a closer look at the economic situation and prospects in the Grand Duchy. 49 heads of businesses located in the Grand Duchy assessed their current situation and expected future trends.
The result is encouraging: whereas only 38% of CEOs worldwide reported increased confidence in the growth of their company, the figure stands at 51% for the Grand Duchy! The study relates the confidence of CEOs in the Grand Duchy to the fact that they are enthusiastic about new initiatives of the public sector and the private sector. The concerns CEOs in the Grand Duchy still have include over-regulation (95%), geopolitical uncertainty (91%), and cyber-threats (76%).
Optimistic about the country's growth
In the Grand Duchy, 53% of the CEOs interviewed felt that economic growth would improve in the Grand Duchy in the course of the coming year, and only 9% anticipated a negative trend.
But for European growth, CEOs in the Grand Duchy are more sceptical – only 16% think that growth in Europe will improve over the next twelve months.
And as for Brexit, despite some concern, stakeholders in non-financial sectors are confident that it will not have too much of an impact on their economic activities. CEOs in the financial sector are even confident that in the long term Brexit will have a positive effect, and view it as an opportunity to be seized.
The consequence of this robust confidence in the growth of businesses and in a stable environment is that CEOs in the Grand Duchy believe they have more room for manoeuvre to pursue non-financial objectives. Thus most CEOs in the Grand Duchy place corporate responsibility at the heart of their economic models.
(Article written by the editorial team of the portal luxembourg.lu)