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Ceturtdiena 29.09.2016 | Name days: Mihails, Miķelis, Mikus, Miks, Miģelis

CEOs in Central and Eastern Europe are threatened by geopolitical uncertainty the most

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RU48% of CEO in Central and Eastern Europe predict the continuation of global economy’s stagnation. 63% believe economic development of different companies is threatened by a larger number of negative factors now than it was three years ago.

48% of CEOs in Central and Eastern Europe predict stagnation of the world’s national economy will continue. Nevertheless, optimism of CEOs in regards to the future of their company has growth in spite of widespread pessimism – 37% of respondents admit there are ‘very confident’ about their chances for the next 12 months and 41% are confident about their chances in the next three years (the increase in comparison with 2015 is 30% and 37%, respectively), according to results of a survey by PwC.

Nearly two-thirds of business leaders believe there are more risks now than there were three years ago. Respondents mentioned geopolitical uncertainty as the main risk for business growth – 86%. Government’s reaction to budget deficit and debt burden was mentioned as the biggest risk by 81% of respondents in the region (71% worldwide).

PwC experts explain in the survey that everything will be decided by technologies, innovations and talents, because companies in Central and Eastern Europe with to reach higher and begin competing in terms of quality and added value, not just as low-cost producers. Unfortunately, it seems employers of the region do not compete much for talented workers – 42% of employers mentioned salary, bonus pay and additional benefits as the main areas in which they perform changes to attract and keep talented workers (33% worldwide).

«In reaction to changes appearing around the world, CEOs in Central and Eastern Europe, similar to managers around the world, try to find a successful business model to employ. In addition to global factors such as geopolitical uncertainty, legislative uncertainty and governments’ reaction to last year’s budget problems, business leaders of the Central and Eastern European region face unique challenges – securing a transition from a low-cost business model to a different model: one that would employ technological and human resources to secure innovations and create added value,» – comments PwC Central and Eastern European Region manager Olga Grygier-Siddons.

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