UAE CEOs more optimistic, outpace global counterparts in diversification and digital strategy, KPMG study reveals

UAE CEOs more optimistic, outpace global counterparts in diversification and digital strategy, KPMG study reveals

- KPMG 2022 CEO Outlook Survey reveals UAE CEOs are bullish on the future: only 24% expect a recession as compared to 86% of global CEOs expecting an imminent economic downturn

- As many as 60% of UAE CEOs expect earnings to increase 2.5 to 4.5% annually over the next three years, which is more than twice the number of CEOs worldwide.

- The UAE posted its strongest growth in more than a decade, driven by a sharp increase in oil production and a noticeable improvement in non-oil GDP

- A vast majority (96%) of UAE CEOs reported having an aggressive digital strategy in place, which was much higher than the global figure of 72%.

Dubai: UAE CEOs are better placed than their global counterparts to respond to an economic crisis, with 68% of local leaders diversifying their business compared to a mere 32% of global CEOs, putting them ahead of their global counterparts by at least six months. This is according to the latest findings of the KPMG 2022 CEO Outlook Survey, which polled 1,325 CEOs from 43 countries, including 25 from the UAE.

UAE CEOs remain optimistic about their business prospects, with 60% of them expecting earnings to increase 2.5 to 4.5% annually