36% of Bangladeshi CEOs predict economic growth, as per PwC survey

Source:China Sport ShowRelease time:10-Apr-2024Clicks:

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In a notable shift towards optimism, 36 per cent of Bangladeshi CEOs are now anticipating an upturn in economic growth over the next 12 months. This percentage marks a significant rise from the 31 per cent recorded last year, as per the latest Annual Global CEO Survey conducted by the PricewaterhouseCoopers (PwC), an international advisory firm.

The survey, which encompassed insights from 4,702 CEOs across 105 countries, including 52 from Bangladesh, also revealed a heightened sense of confidence among Bangladeshi CEOs regarding longer-term growth prospects.

According to statements released by PwC Bangladesh, the findings indicated that 43 per cent of local CEOs are optimistic about their business’ growth trajectory over the next three years. However, only 24 per cent expressed confidence in immediate revenue growth within the upcoming 12 months.

Interestingly, the survey unveiled a strategic shift among CEOs towards long-term transformation agendas, in alignment with global trends. Approximately 57 per cent are contemplating changes to their business models, while 47 per cent have already integrated new technologies to enhance product quality and operational efficiency.

Additionally, 28 per cent have established dedicated teams for technology development.

Notably, energy efficiency and decarbonisation emerged as focal points, with 72 per cent of Bangladeshi CEOs reporting improvements in their firms’ energy efficiency metrics. The burgeoning interest in artificial intelligence (AI) is also evident, with nearly 80 per cent of CEOs foreseeing the potential of generative AI to enhance work efficiency within the next year.

Moreover, 74 per cent anticipate similar benefits for their workforce. Furthermore, a majority—57 per cent —expects AI to drive revenue growth, while 60 per cent believe it will bolster profitability.

Commenting on the findings, Arijit Chakraborti, director and office managing partner of PwC Bangladesh, highlighted the growing inclination among Bangladeshi CEOs to evaluate their organisations’ long-term relevance vis-à-vis global megatrends.

Meanwhile, Mamun Rashid, country clients and markets leader of PwC Bangladesh, emphasised the dual challenge faced by CEOs—navigating short-term hurdles while capitalising on long-term opportunities.

He underscored the increasing role of technology adoption in driving transformative changes and delivering tangible outcomes for stakeholders.