According to the 2023 CEO Insights Report published by Arthur D. Little (ADL), CEOs of the world’s largest corporations are upbeat despite the current economic turmoil.
For the next three to five years, 63% of respondents expected a stable or positive economic environment, the strategy and management consulting firm said in the report.
Out of nearly 250 CEOs of companies with over $1 billion turnover, 33% of the 21 Indian CEOs surveyed had an optimistic view of the economic outlook over the next 3-5 years, much above the global average of 22% .
“The research shows a global senior executive community that is working with passion and creativity to get the global economy back on track,” said the report’s publishers.
“Our research shows that Indian CEOs are more optimistic about the future than their global counterparts,” said Barnick Chitran Maitra, Managing Partner, Arthur D. Little India & South Asia.
“They look to 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 sure that this new generation of transgender Indian CEOs and companies can potentially become national and global champions.
“Indian CEOs show a more positive outlook than their global counterparts, as nearly two-thirds of them have a positive-stable outlook about the future. What is making a difference in India is domestic demand which has been strong,” he adds.
The study further highlights that CEOs are keen on growth despite the crisis as half of them believe they will expand into new areas, while 30% anticipate growing faster than the overall market.
Even cautious CEOs anticipate an increase in growth investment, with 40% of them planning to increase spending and 55% keeping spending steady. ADL said that leading CEOs are developing true opacity together by integrating this innovation with a laser-like focus on cost efficiency.