About 44% MENA CEOs expect industry conditions to worsen in 2023: Report
Teneo survey offers insight into steps corporate leaders are taking in the face of disruptive forces, including economic conditions, geopolitics, ESG, talent, and innovation.
Around 44% of the CEOS in MENA and Asia regions are expecting the economy and industry conditions—both globally and domestically—to worsen over the next months in 2023.
About 11% of CEOs in the region believe the forecast for global and domestic economies, availability to finance, industry conditions, and customer demand would deteriorate significantly, according to a report by global consulting firm Teneo.
It suggested that an uncertain macroeconomic outlook and deglobalisation are among the top issues on the minds of the participants as they plan for 2023.
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CEOs in the region indicated they are bracing for further changes in capital markets, technology, and geopolitics in the next year.
Globally, top executives indicated a tendency to combine environmental, social, and corporate governance concerns with the core business, with the majority indicating that this would be their primary focus.
This trend is sharpest in the MENA region where 80% of CEOs plan to achieve a balance, compared to 20% who would prioritise core business, the report indicated.
The report is based on a survey of more than 300 CEOs of global public companies and institutional investors to gauge their perspective on a range of issues—from global macroeconomic outlook to innovation and emerging technologies, deglobalisation and its knock-on effects, ESG, and talent.
It is compiled with the intention to help businesses understand the market expectation, highlight areas that investors want businesses to focus on, and better prepare for the immediate and longer term.
Edited by Kanishk Singh
