CEOs of large corporations of the world remain upbeat despite the current economic unrest, according to 2023 CEO Insights Report, published by Arthur D. Little (ADL).
For the next three to five years, 63% of respondents anticipate a stable or positive economic environment, the strategy and management consulting firm said in the report.
Of the nearly 250 CEOs from companies with a turnover of more than $1 billion, 33% of the 21 Indian CEOs surveyed had an optimistic view about the economic outlook over the next 3-5 years, quite above the global average of 22%.
“The research shows a global senior executive community that is taking the bull by the horns and working with passion and creativity to get the global economy back on track,” the publishers of the report said.
“Our research reveals that Indian CEOs are more optimistic about the future than their global counterparts,” said Barnik Chitran Maitra, managing partner, Arthur D. Little India & South Asia.
“They look past the current crisis to embrace a more promising future for their businesses with over 90% of Indian CEOs increasing or maintaining growth investments. We are certain that this new generation of ambidextrous Indian CEOs and companies can potentially become national and global champions,” he said.
“Indian CEOs show a more positive attitude than their global counterparts, as almost two-thirds of them have a positive-to-stable outlook about the future. What is making the difference in India is the domestic demand which has been strong,” he further said.
The study further highlights that CEOs are keen on growth despite the crisis as half of them believe they will expand into new regions, while 30% anticipate growing faster than the overall market.
Even cautious CEOs anticipate increasing growth investments, with 40% of them planning to raise spending and 55% holding expenditures steady. Leading CEOs are simultaneously developing true ambidextrousness by integrating this innovation with a laser-like focus on cost efficiency, ADL said.
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