CEOs expect 2023 to be challenging

A calculator showing 2023.

(08.02.2023) Swiss business leaders fear that the year 2023 will be a mixed bag. Of the 95 CEOs questioned in the "Annual Global CEO Survey", published by the consultancy firm PWC, only 20% expect an increase in turnover in the next twelve months.

The main obstacles to growth – inflation, rising interest rates and government debt – are less pronounced in Switzerland than in most other countries. This partly explains why fewer Swiss managers fear a "moderate" (18%) or "strong" (2%) decline in sales than their foreign counterparts. The worldwide average for these two categories is 24% and 8%, respectively.

Nevertheless, 38% of Swiss decision-makers believe that their revenues will decrease slightly (compared to a 27% average) and 22% expect them to stagnate (compared to a 12% average). Only 13% of Swiss managers expect a "slight increase", and 1% expect a "strong increase", compared to 16% and 3% respectively for the global average.

The PWC report also highlights the importance of connecting different sectors of the economy as well as public institutions to stimulate innovation and transformation, create new sources of value or find new markets. To that end, 78% of the companies surveyed have turned to start-ups, 84% to academic institutions, 65% to public authorities and 84% to "established" companies.

Skill shortages are still perceived as one of the biggest challenges for 2023. Many companies plan to review their HR strategy, including company culture and behaviors (68%), skills and adaptability (59%), health and wellness (47%), and pay, benefits and incentives (42%).


Last modification 08.02.2023

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