FRIDAY, 31 MAR 2017

 

CONNECT

Facebook Linked In Twitter
PwC_28/02-22/03_728x90px
GloriaJeans_266x90px
IMH LTD

Government to Continue Implementing Policies towards Economic Growth

Anastasiades Discusses Brexit Challenges with Maltese Opposition Leader

IMH LTD
Accountancy_468x60px

Cyprus CEOs Cyprus CEOs See Increase in their Revenues

 

PREVIOUS

NEXT

 
 
 
Cyprus CEOs See Increase in Their Revenues

Cyprus CEOs See Increase in Their Revenues

CEOs in Cyprus are more confidentabout their company’s prospects for revenue growth, according to the local findings of PwC’s 19th Annual Global CEO Survey titled “Redefining business success”.

Eighty business leaders of some of the largest organisations in Cyprusparticipated in the 5th consecutive local survey while the global survey sample consisted of a total of 1,409 CEOs in 83 countries. 

According to the local survey, even though CEOs in Cyprus share the concerns of their counterparts as regards the outlookof the global economy, the vast majority remain confidentabout their own company’s prospects for revenue growth over the next 12 months.

More specifically, 20% said they were very confident and 65% somewhatconfident, compared with 14% of the CEOs who said they are not confident. As regards the global economic growth, 49% of CEOs in Cyprus expect that it will remain the samewhile 19% anticipate that it will decline, in contrast to 33% who believe that it will improve over the next 12 months.

On a global level, CEOs are less optimistic about the future ofthe global economy compared to2015. The same applies to prospects for revenue growth, with just 35% saying they are very confident, as opposed to last year’s 39%. 

Another key factor is that 53% of Cyprus CEOs see opportunities for growth whereas CEOs globally with a percentage of 66% seemore threats than opportunities than 3 years ago.

When it comes to the threats, 76% of Cyprus CEOs are concerned about the geopolitical uncertaintyin the region, while 70% are equally concerned about the Eurozone debt crisis. The state’s response to fiscal deficit and debt burden is also a source of concern for 69% of participants in Cyprus, while an equal number of participants are concerned about the over-regulation affecting their field of activity. Furthermore, 65% of CEOs consider bribery and corruption a major threat to their companies’ future, when the corresponding figure inthe Eurozone is just 38%.

Commenting on the local survey findings, CEO of PwC, Evgenios Evgeniou said: “The confidence expressed by CEOs comes at a time ofpositive developments for the Cyprus economy, such as the return to growth, the upgrading of Cyprus’ credit ratings and the exit from the three-year bailout program, as well as the progress in doing business recorded in international reports. Even thoughthere is still a lot to be donethe survey findings affirm that our country is entering a new era. The aim of viable growth, both for the businesses that are the backbone of economic activity in Cyprus and the economy as a whole, is today more feasible and realistic than ever.”

The local findings of the 19th Annual Global CEO Survey were presented by Philippos Soseilos, Human Capital Partner, PwC Cyprus, at an event held on Tuesday, 8 March 2016. Taking part in the panel discussion that followed were John Patrick Hourican, Group Chief Executive Officer, Bank of Cyprus, Dr. Andreas Pittas, Executive Chairman, Medochemie Ltd and Constantinos Petrides, Under- Secretary to the President who has also given an extensive interview in the context of the survey.

The findings are available on the PwC website: www.pwcceosurvey.com.cy

 

FROM AROUND GOLDNEWS

   

Anastasiades Discusses Brexit Challenges with Maltese Opposition Leader

President of the Republic Nicos Anastasiades and Simon Busuttil, chairman of the Nationalist Party and leader of the Opposition in Malta, discussed today the ...
   

Nineteen Teams Travelling to Cyprus for the Ayia Napa Tournament 2017

The international Ayia Napa Tournament, the longest running youth academy tournament held in Cyprus and one of the largest in Europe, will take place between ...
   

Baker Tilly Awarded with Special Export Award for Services

The Selection Committee for the Cyprus Export Award has honored Baker Tilly in South East Europe with the “Special Export Services Award for 2015”. ...
   

Cyprus Gaming Show to Take Place in Limassol

The first ever Cyprus Gaming Show, will now be hosted in the Republic of Cyprus and will take place 12 - 13 September 2017 in Limassol. The National Betting ...
   

EBRD Ready to Take Part in Privatisation of Cyta

The European Bank of Reconstruction and Development (EBRD) stands ready to take part in the privatisation of the Cyprus Telecommunications Authority (Cyta), an ...
   

Substantial Increase of IELTS Test Days by the British Council

The British Council Cyprus is increasing the number of IELTS test date by more than 40%, giving the opportunity to more candidates to register for the widely ...
   

The Impact of European and Global Developments on Cyprus Economy

The 7th Nicosia Economic Congress, presented by Alpha Bank Cyprus Ltd, will take place on Tuesday, 25 April 2017, at the Hilton Park Hotel in Nicosia. ...
   

Alexei Meshkov to Hold Meetings in Nicosia

Deputy Foreign Minister of Russia Alexei Meshkov will hold meetings on Friday, March 31st, in Nicosia, during which he will discuss developments in the Cyprus ...

HEADLINES

MOST POPULAR

Deloitte_2016_300x250px
Gold_Issue_300x250px

IMH LTD