This year's survey results in brief
As part of PwC’s 26th Annual Global CEO Survey, during October and November, 2022 we surveyed local and international business leaders whose companies operate in Albania.
On a global level 4,410 CEOs responded to PwC’s 26th Annual CEO Survey. Unlike last year, there is a pessimistic view for global economic growth, from global CEOs and Albanian CEOs as well. Forty percent of global CEOs think their organization will no longer be economically viable in ten years’ time if it continues its current course.
On a regional level, the war in Ukraine has put the global spotlight on Central and Eastern Europe. From Germany’s eastern border to the frontier of China, CEOs throughout the region are dealing with the fallout from the conflict, which is also driving uncertainty around the world. Albanian executives must seize this opportunity to transform their organizations, meeting challenges including geopolitical threats, rampant inflation and economic instability.
Like their peers elsewhere, CEOs in Albania are pessimistic about the prospects for the global economy, the survey finds. Similarly, they’re bearish on the outlook for their own local economy. The good news? Executives are more optimistic about their own companies’ prospects. They see the need for change – and they’re also thinking about the steps they need to get there.
This is an optimistic sign that executives are finding ways to leverage the current crisis for their companies’ long-term benefit. As leaders seek to transform their organizations, we believe the data in this survey can be a powerful tool for them, highlighting priority areas for change and helping them chart a course of action.
The data in the report below shows Albanian CEO responses to the Survey questions and in some relevant instances, a comparison to the responses of Central and Eastern Europe’s and Global CEOs.
The dual imperative facing today’s CEO is a challenge of the first order, but it’s also an opportunity to lead with purpose and help business play the role needed so desperately by society—a catalyst of innovation and a community of solvers that plays for the long haul.
Key Findings
During the analysis phase of the survey, the following remarks and trends prevailed on predicting the business environment in the year/s ahead:
76% of Albanian CEOs believe that the global economy will decline in the next 12 months. The pessimistic view of Albanian CEOs for the growth of the global economy is also reflected on their own company’s growth prospects.
49% believe that inflation is the top concern in the next 12 months and also being the biggest worry over the next five years, followed by cyber risk and macroeconomic volatility.
In Albania, 46% of CEOs are cutting costs and 34% raising prices — but most don’t plan to reduce the workforce.
46% of Albanian CEOs don’t think their companies will be economically viable a decade from now if they continue on their current path.
In our country, roughly 60% of business leaders are planning to invest more in automation of processes and systems.
Close to 40% of CEOs in our country are considering increasing cyber investments in response to geopolitical conflict.
CEOs want to spend less time on operations, more time reinventing their business.
"A special thank you goes to all respondents this year, who have contributed by sharing their thoughts, experience and concerns. We really value your opinion and input to this survey.
We are thrilled to note the CEO Survey has become now a tradition for the Business Agenda in Albania where we share valuable insights regarding the business environment in the years ahead.
Therefore, I invite you to read this report and make best use of it as a source of inspiration when putting into life your strategies, vision and objectives of your business."
Loreta Peci
