Qatar-based CEOs remain optimistic about the growth prospects for the country, although confidence in the global economy has fallen, a recent KPMG survey has shown. According to KPMG, 60% of CEOs in Qatar expressed confidence in the growth prospects of their country, compared to 45% of global CEOs who expressed confidence in their county’s growth prospects.
The latest Qatar CEO Outlook report by KPMG is an effort to bring some clarity to the “new normal”. KPMG interviewed thousands of CEOs from many of the world’s largest companies, first in January and then again in July and August, to get their perspectives and to understand how their priorities have changed as a result of the Covid-19 pandemic.
The firm surveyed a range of top business leaders and found that CEOs in Qatar remain optimistic regarding Qatar’s growth prospects with 60% expressing confidence in the growth prospects of their country, compared to 45% of global CEOs who expressed confidence in their country’s growth prospects.
Ahmed Abu-Sharkh, country senior partner (Qatar) stated: “The Covid-19 pandemic has disrupted almost every aspect of our lives today and for CEOs it has redefined leadership. These individuals at the helm of large organisations have had to lead through adversity and manage a level of uncertainty that few will have ever experienced.”
According to the survey, 80% of CEOs in Qatar said they have had to rethink their global supply chain approach, as a result of the disruption caused by the pandemic. And 70% of CEOs in Qatar said they felt a stronger emotional connection to their purpose since the crisis began and 80% said they have had to re-evaluate their purpose as a result of Covid-19 to better address the needs of stakeholders.
About 50% of Qatar-based CEOs said that progress has sharply accelerated putting them years in advance of where they expected to be on the creation of new digital business models and revenue stream and the creation of a seamless digital customer experience.
90% of CEOs say they will continue to build on the digital collaboration and communication tools that are being used as a result of the pandemic, and 70% believe that remote working has widened their available talent pool.
The CEO Outlook is based on the input of CEOs in Qatar and provides an “in-depth” outlook from thousands of global executives on enterprise and economic growth.
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