Less than 50% Bangladeshi CEOs optimistic about biz future: PwC survey

Globally, 40 per cent of CEOs fear that their companies may no longer be economically viable in ten years' time if they continue on their current course.

The CEOs of Bangladesh who participated in the survey were younger than their global counterparts, with 63 per cent of them aged over 50.

Bangladesh CEOs recognised the potential for disruption ahead and expressed the need for transformation to become future-ready. They cited multiple challenges to the profitability of their industry over the next ten years, with changing customer preferences being the most prominent challenge, followed by the ongoing global supply chain disruption, as per the PwC survey.

Bangladesh CEOs were also more concerned about supply chain disruption than regulatory changes due to the country's significant reliance on imports of raw materials and its strong dependence on exports and remittances.

Furthermore, CEOs in Bangladesh highlighted the increasing exposure of their businesses to climate change in the next five years, despite the fact that less than 10 per cent of companies in the country have implemented a climate strategy, and only 3 per cent have adopted carbon-pricing initiatives.

Regarding threats to their business, CEOs in Bangladesh feel most exposed to inflation, macroeconomic volatility, and geopolitical conflict for the next 12 months. In the medium to long term, they are more concerned about climate change.

Despite their concerns about the future, more than half of the CEOs in Bangladesh surveyed are confident about their company's growth over the next 12 months. They predict that the top six countries that will play a strong role in boosting revenue growth in the next 12 months include one country from North America, three from Asia, and one from Europe, with the US leading the list by a long shot.

The survey also found that CEOs in Bangladesh spent most of their time strategising for the future, followed by driving business performance and capacity building of human resources. However, they want to focus more on engaging with customers instead of evolving their businesses for the future.

“Inflationary pressure has been high in Bangladesh in the last 12 months, but not as high as that of many peer economic jurisdictions. However, managing inflation will be important to sustain the country’s growth,” said Mamun Rashid, managing director, country clients and markets leader—PwC Bangladesh.

ALCHEMPro News Desk (DP)