Uruguayan CEOs are the most optimistic in the region about the local economy

RIO DE JANEIRO, BRAZIL – After two pandemic years in which the economy was hit hard and only partially recovered, global sentiment on growth prospects is changing.

CEOs around the world, for example, believe that the global economic situation will improve in the short term. According to a survey conducted by Price Waterhouse and Coopers (PwC), 77% of CEOs worldwide believe economic growth will improve.

Read also: Check out our coverage on Uruguay

The survey was conducted in Uruguay among 60 executives from various companies. When asked, “How do you think economic growth in your country (GDP) will change in the next 12 months, if at all?” 95% of the country’s CEOs are confident that the local and global economy will grow.

It means that Uruguayan CEOs are “the most optimistic in the region and stand out globally,” according to PwC. In addition, optimism in the country increased by 27 points compared to the consulting firm’s last survey.

Uruguayan business leaders’ positive view of the economic scenario stands out even more in the region. According to their CEOs, the probability of an increase in the gross domestic product (GDP) is 46% in Argentina and 54% in Brazil. At the same time, 34% and 36%, respectively, believe the situation will worsen.

CONFIDENCE IN ONE’S OWN COMPANY

In turn, the data published by PwC shows that “almost half of the Uruguayan CEOs (48%) also have a high level of confidence in the sales growth prospects of their own companies over the next 12 months.” On the other hand, this figure is higher globally, and CEO confidence is 56%.

In 2020, 25% of Uruguayan executives expected the local and global economy to improve, while 40% thought it would stay the same, and 35% believed it would decline. Last year, the number of those expecting GDP to improve increased considerably to 68%, while 17% believed it would stay the same, and the pessimistic view fell by more than half to 15%.

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