UK leading the way in confidence

UK CEOs are continuing to invest amidst the continued uncertain economic climate, and in the face of unprecedented levels of cost cutting.

Despite variable confidence levels, PwC’s annual CEO survey showed that 60 per cent of UK CEOs have increased head count globally in the past 12 months, compared with India (55 per cent) and China (51 per cent).

With 79 per cent of UK CEOs more upbeat about revenue growth in the next year, compared with 64 per cent of CEOs in eurozone countries, the report provides encouraging signs that the UK may be faring better, in confidence terms, in the face of continued uncertainty in European and global markets.

Although only 29 per cent of UK CEOs surveyed are very confident of growth in the next 12 months, 46 per cent are very confident of growth in the next three years and 92 per cent confident of growth beyond that.

The survey also revealed that most CEOs are committed to expanding local customer bases in their priority markets.

However, rather than simply exporting products, they’re building diverse local operations, from services capabilities to manufacturing capacity.

Critically, they’re changing their product mix – and sometimes their entire operating models – to meet local needs and conditions.