Mideast CEOs positive on global growth

dubai — Middle East CEOs are increasingly optimistic on global economic growth, with 52 per cent saying that they believe the global economy is set to improve, compared to 26 per cent last year, a new survey has shown.

The ‘Middle East CEO Survey’ by PwC also showed that 81 per cent of respondents were confident that their own company would grow over the next 12 months, this is down from 88 per cent last year.

“Our regional CEOs are positive about global and regional growth, yet they are often hesitant about their own corporate growth; they welcome technology but at the same time fear cyber crime,” Hani Ashkar, PwC Middle East territory senior partner, pointed out. “The region is rapidly evolving in the wake of shifting global trends. In particular, it has been a landmark year of change for the Gulf’s largest economy, Saudi Arabia.”

In light of the recent implementation of the value added tax (VAT) in both the UAE and KSA, it was unsurprising that 85 per cent of regional CEOs were concerned about ‘increasing tax burdens’ compared to 74 per cent last year. The survey also showed that 77 per cent of the region’s CEOs more concerned with cyber threats this year, in comparison to 66 per cent last year. This is likely due to a slew of regional highprofile malware and viruses in the last few years.

— business@khaleejtimes.com