‘KPMG 2021 CEO Outlook – UAE’ survey revealed 92 percent of CEOs are confident about the country’s growth prospects, compared with 82 percent of their global counterparts
CEOs in the UAE are overwhelmingly positive about the growth of their individual companies and the country in general, with optimism reaching pre-pandemic levels, according to the latest survey from global consultancy giants KPMG.
The ‘KPMG 2021 CEO Outlook – UAE’ survey revealed 92 percent of CEOs are confident about the country’s growth prospects, compared with 82 percent of their global counterparts. While 88 percent of local business leaders are optimistic about their company’s growth.
The survey found UAE business leaders believe inorganic strategies will be critical in driving their businesses forward over the next three years. Almost seven in ten (68 percent) CEOs say they will primarily use M&A (the focus for 36 percent), strategic alliances with third parties (20 percent) and joint ventures (12 percent) to achieve this ambition.
The prospect of a stronger future is a result of the UAE government’s response to the global Covid-19 pandemic, such as imposing an early lockdown, promoting the vaccination program alongside spreading awareness, and government stimulus measures announced last year.
Consequently, investor sentiment has increased due to the country’s recent progressive reforms, including new long-term visa schemes. Expo 2020 Dubai is also expected to play a big role in driving economic growth this year and next, boosting tourism and foreign investment and contributing to an anticipated economic growth rate of 4.9 percent in 2022.
Nader Haffar, chairman, KPMG Middle East and South Asia, and chairman and CEO, KPMG Lower Gulf, said: “The UAE government has turned a potential crisis into an opportunity by tackling the pandemic head-on with resources, smart technology and encouraging the private sector with a raft of enabling measures.
Why CEOs in the UAE are confident in company’s and country’s growth
‘KPMG 2021 CEO Outlook – UAE’ survey revealed 92 percent of CEOs are confident about the country’s growth prospects, compared with 82 percent of their global counterparts
CEOs in the UAE are overwhelmingly positive about the growth of their individual companies and the country in general, with optimism reaching pre-pandemic levels, according to the latest survey from global consultancy giants KPMG.
The ‘KPMG 2021 CEO Outlook – UAE’ survey revealed 92 percent of CEOs are confident about the country’s growth prospects, compared with 82 percent of their global counterparts. While 88 percent of local business leaders are optimistic about their company’s growth.
The survey found UAE business leaders believe inorganic strategies will be critical in driving their businesses forward over the next three years. Almost seven in ten (68 percent) CEOs say they will primarily use M&A (the focus for 36 percent), strategic alliances with third parties (20 percent) and joint ventures (12 percent) to achieve this ambition.
The prospect of a stronger future is a result of the UAE government’s response to the global Covid-19 pandemic, such as imposing an early lockdown, promoting the vaccination program alongside spreading awareness, and government stimulus measures announced last year.
Consequently, investor sentiment has increased due to the country’s recent progressive reforms, including new long-term visa schemes. Expo 2020 Dubai is also expected to play a big role in driving economic growth this year and next, boosting tourism and foreign investment and contributing to an anticipated economic growth rate of 4.9 percent in 2022.
Nader Haffar, chairman, KPMG Middle East and South Asia, and chairman and CEO, KPMG Lower Gulf, said: “The UAE government has turned a potential crisis into an opportunity by tackling the pandemic head-on with resources, smart technology and encouraging the private sector with a raft of enabling measures.
“Thanks to this stable framework, CEOs are emerging stronger and more confident about the economy and their own organisations’ prospects for the future. They are also adopting a forward-thinking strategy towards shifting their resources to disruptive technology and increasingly pushing ESG issues up the business agenda.
“To thrive in a post-Covid landscape, CEO’s have to be plugged-in, people-first and purpose-led to drive profitability and long-term growth while also recognising the positive impact on the planet and society.”
Key findings:
Connecting ESG strategy with financial returns
As CEOs plan to devote significant capital to becoming more sustainable, it’s important their digital investments are plugged into their ESG needs. Almost nine in ten (88 percent) of UAE CEOs say their digital and ESG investments are inextricably linked.
