PwC presents the results of the 12th annual Kazakhstani edition of the survey of CEOs of the largest companies of the world conducted as part of the 27th PwC Global CEO Survey. 4,702 CEOs of private businesses from 105 countries participated in the global survey, including 60 CEOs from Kazakhstan this year.
The main focus of the current survey was on prospects of development of the Kazakhstani and global economies, viability of the companies in the next decade, threats and factors affecting business and its value, issues of climate change and technological leaps, among which we discussed in detail the areas of application of generative artificial intelligence.
In 2024, Kazakhstani businessmen were more optimistic about the projected growth of the global economy (60% of Kazakhstani СЕОs believe in growth) than their peers from other countries (in total 38% of global СЕОs believe that the global economy will grow). In Kazakhstan, only 18% respondents expect a decline in the global economy (last year – 37%). It should be noted that even those who believe in the growth of the global economy still think that it will be moderate.
More than half of the respondents expressed their confidence in the growth of the economy of Kazakhstan (70%), and only 13% voiced concerns about its possible decline. Such optimism among Kazakhstani СEOs is caused by the current geopolitical environment, which made the country a priority for many global markets.
Among the main business threats for the Kazakhstani business are geopolitical conflicts (51%), cyber risks (37%) and inflation (29%). Geographically, Kazakhstan and Central Asia are close to major economies, which are the main participants of the geopolitical conflicts, which causes a significant exposure to risks and a possibility of financial losses.
Generative artificial intelligence, as a technological trend having systemic consequences, is able to significantly change the conventional work of not only business but also the entire humanity. 70% of the respondents in Kazakhstan agree that the generative AI will improve the quality of their goods or services within a year (globally – 58%). To date, 44% of the respondents in Kazakhstan have already implemented the generative AI (globally – 32%), and the majority of CEOs are expecting its transformative potential within the next three years.
Climate change is still an important part of the agenda. The companies, which take reasonable efforts in the fight against climate change, can increase their competitiveness, reduce risks and contribute to a more sustainable future. Businessmen take efforts to counteract climate change but note that the government should make this issue one of its main priorities. Based on the results of the survey, more than half of the respondents are in the process of increasing energy efficiency - 64% in Kazakhstan and 65% globally. Almost 10% of the respondents have completed this process. The introduction of environmentally friendly investments is the second priority measure, which is now undertaken by Kazakhstani (61%) and global (51%) businessmen. Investing in natural climate solutions has been planned by 48% of Kazakhstani CEOs and by 36% of CEOs globally.
For the first time in the 12 years of this survey, investment attractiveness and developed infrastructure (including digital) have become the most important governmental priorities in Kazakhstan, in the opinion of 47% of CEOs of private businesses.
We would like to express our gratitude to each participant of our survey who took the time for a personal and online meeting and completed the questionnaire. We hope that the result of our joint efforts will contribute to a deeper mutual understanding and cooperation between private business and the government and will allow to consider the current issues and expectations in the real sector of the economy of Kazakhstan.
