More than 80% of Chief Executive Officers within the Middle East are confident that we are already seeing the first green shoots of recovery and that by this time next year revenue will have grown by at least 80%
Price Waterhouse Cooper’s have just released their 13th Annual Global CEO survey and they are saying that the regions increased policy of accelerated government spending along with growing domestic industries have allowed the region to begin to pull out of the recession.
At least 66% of CEO’s in the region think that economic recovery is already evident or beginning to become noticeable. In Western Europe this figure is just under 60%, in North America the figure is 67% and in Latin America the figure predicting a recovery is 66%.
In the Asia-Pacific and Africa however CEO’s are less confident of such a speedy recovery. However when an average figure is calculated approximately 79% of CEO’s are expecting a good recovery in their national financial outlook within the next two years.
In essence the overall view of CEO’s in the Middle Eastern is that the region is in a much better position for recovery than those economies in Central Europe who are still largely dependent on recovery patterns of the developed world.Paul Holdsworth, Staff Writer, Gulf Jobs Market News