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Johannesburg - Both South African and global CEOs are confident about future growth, according to PwC's 14th Annual Global CEO survey, and 2nd Annual South African Survey.
Globally, 88% of CEOs said they had some level of confidence for prospects in the next 12 months, up from 81% last year.
Longer term, 94% were confident of growth three years from now - an increase of 2%.
Renewed confidence was spread across all continents, with CEOs in India, Austria, Colombia, Peru, China, Thailand and Paraguay particularly upbeat about short-term growth.
PwC Southern Africa CEO Suresh Kana said South African CEOs remained extremely positive about prospects, but were well aware of the challenges the country faces.
"Eighty two percent of South African CEOs expect their business to grow in the next 12 months.
"Longer term, they are as confident about growth as global CEOs, with 94% believing that growth will occur over the next three years."
Though the average growth rate of SA's economy lagged that of its emerging-market peers, it was well ahead of many more-developed economies.
At the same time, fiscal discipline and stability in the banking sector had enabled the economy to hold firm.
"CEOs now see opportunity for growth, even in the short term, and are determined to take advantage of better global economic conditions and increased customer demands," said Dennis Nally, the chairperson of PwC International.
According to Nally, emerging economies such as China, India and Brazil were growing at rates that far surpassed the developed nations.
"The shift in the economic balance of power creates challenges for CEOs in deciding how and where to invest in facilities, people and innovation. Companies that understand and capitalise on the diverging growth patterns of the developed and emerging economies, will be the winners in the years ahead," he added.
Globally, 88% of CEOs said they had some level of confidence for prospects in the next 12 months, up from 81% last year.
Longer term, 94% were confident of growth three years from now - an increase of 2%.
Renewed confidence was spread across all continents, with CEOs in India, Austria, Colombia, Peru, China, Thailand and Paraguay particularly upbeat about short-term growth.
PwC Southern Africa CEO Suresh Kana said South African CEOs remained extremely positive about prospects, but were well aware of the challenges the country faces.
"Eighty two percent of South African CEOs expect their business to grow in the next 12 months.
"Longer term, they are as confident about growth as global CEOs, with 94% believing that growth will occur over the next three years."
Though the average growth rate of SA's economy lagged that of its emerging-market peers, it was well ahead of many more-developed economies.
At the same time, fiscal discipline and stability in the banking sector had enabled the economy to hold firm.
"CEOs now see opportunity for growth, even in the short term, and are determined to take advantage of better global economic conditions and increased customer demands," said Dennis Nally, the chairperson of PwC International.
According to Nally, emerging economies such as China, India and Brazil were growing at rates that far surpassed the developed nations.
"The shift in the economic balance of power creates challenges for CEOs in deciding how and where to invest in facilities, people and innovation. Companies that understand and capitalise on the diverging growth patterns of the developed and emerging economies, will be the winners in the years ahead," he added.
