Turkish CEOs are optimistic about growth: PwC

Majority of Turkish CEOs are optimistic about growth and also confident in their own organization’s growth prospects, according to the PwC’s 24th Annual Global CEO Survey.

70% of Turkish CEOs stated that they optimistic about economic growth and their companies’ growth prospects. Moreover, climate change is on Turkish CEOs’ radar, the survey revealed. While climate change is ranked 9th among the global threats with 30%, the Turkish business world takes it more seriously by ranking at the 5th place, the survey showed.

Volatility: second biggest threat

“Turkish CEOs see the biggest threats to the economy as pandemic and other health crises (64%), exchange rate volatility (63%), policy uncertainty (56%) and climate change (51%).”

“The approach of Turkish CEOs affects the post-COVID-19 investment plans, and positions ESG (Environmental, Social and Governance) as a priority,” said in the survey.

The survey also revealed that digital transformation investments hold strong. “Although cyber threats are considered less risky, cyber security and data privacy investments hold place on the budget planning of 73% of Turkish CEOs,” it said, stressing that 77% of Turkish CEOs plan to increase long-term digital transformation investments.

2021: A year for rebound

Commenting on the survey, PwC Turkey Territory Senior Partner Cenk Ulu said that research findings reveal that worldwide CEOs participating in our survey, including Turkey, express similar expectations with each other. “This indicates that the business world considers 2021 as a year for rebound,” he said.

“The global business world has left behind a challenging year due to the pandemic, economic crisis, climate crisis and several social, political and foreign dynamics,” he added.

“Despite the fact that majority of these problems severely continue, the business world looks at the future with hope and has an optimistic outlook on regrowth and wealth in each geography without exception, which can be the biggest achievement of 2020,” Ulu said, stressing that this historical year has changed a lot, but instead of weakening hopes, it has made them stronger than ever.

On the other hand, 59% of Turkish CEOs participated in the survey, mention that their organizations will growth within three years, according to Cenk Ulu. The largest markets of CEOs’ growth in Turkey are the U.S., Germany, the UK, China and Russia, respectively, he said.

Here are the key findings of from the survey

>> The pandemic and other health crises: 64%. The pandemic is also the top threat for Turkish CEOs.

>> Exchange rate volatility: 63%. Exchange rate volatility is an issue which distinguishes Turkish CEOs from their global peers.

>> Policy uncertainty: 56%. Turkish CEOs are on the same page with global CEOs about policy uncertainty. >> Climate change: 51%. Turkish CEOs consider climate change more seriously compared with global CEOs.

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