Businesses Optimistic Despite Unfavorable Environment

Despite the unfavorable global economic environment, the majority of CEOs expect rising revenues and profit growth in 2024, EY said in a statement sent to MTI on Wednesday, based on the results of its latest international survey.

According to the 21-country survey of 1,200 CEOs, 64% of CEOs expect rising revenues and 63% expect profits, while three quarters (76%) believe the global economy will barely grow.

The vast majority of respondents (78%) believe that inflation will keep interest rates high in the long term.

EY's survey shows that the proportion of executives (58%) who are accelerating the strategic transformation of their organization has almost tripled since last summer.

The majority of European CEOs (70%) are preparing to invest more actively through research and development (R&D) and acquisitions (M&A). The primary goal of change worldwide is to increase efficiency, and a significant proportion of respondents (41%) would also use artificial intelligence (AI) to achieve this, they said.

“Supply chain reviews, necessary portfolio optimization, new market entry, revenue growth and green transformation are also reasons for companies to ensure their long-term competitiveness through acquisitions," the statement quoted Péter Vaszari, partner in EY's M&A practice, as saying.