The comeback of the global economy is underway! Don’t believe me? Check out the PwC 24th Annual Global CEO Report.
- 76% of surveyed CEOs are projecting that the global economy will improve in the next 12 months
If that seems bullish, it is…In fact, it’s the highest sense of optimism expressed in the survey over the past decade. Moreover, it’s almost 20% higher than the previously recorded survey high. CEOs are more optimistic than ever about a global economic comeback.
- 36% expect to grow revenues in the next year
- 47% assert they will increase revenues over the next three years
Evidently, there has been a clear recent uptick in CEOs’ confidence in their own company’s revenue projections.
- 49% intend to boost their digital transformation spend by 10% or more over the next three years
COVID-19 and the ensuing shift to more of a remote operating model definitely propelled digital investments and projects in 2020. That trend will only continue.
Speaking of trends, while revenue potential has rebounded for many, is this sentiment shared across the board?
Clearly not, as the technology sector has thrived and is well-positioned for growth, while hospitality, leisure, transportation, and logistics, have more ground to make up due to prior lockdowns and ongoing restrictions in certain regions. Bear in mind the GDP did contract 3.5% in 2020, which is significant since it had not performed so poorly since the Great Depression!
As a small business owner, how do you feel about the current and future economic and business environment?
If you are not yet as optimistic as many of the larger CEOs in the PwC survey, why is that and what’s your next move?
RevSherpas is committed to helping small businesses refocus, recover, regrow, and revitalize their lost revenues and profits from 2020 due to the pandemic. Our business breakthrough strategies are designed to enable you to outperform in any economy.
CONTACT US to schedule your free business health diagnostic and profit acceleration plan and strategic roadmap. With the economic bounce back and recovery clearly underway, don’t get left behind!