Executives in emerging markets prioritising bottom line

Issue 1 2023 News

High-level executives in emerging markets worldwide are adopting a cautious, back-to-basics approach towards growth and expansion in 2023, while making the bottom line their priority, amid geopolitical uncertainty and tight financial conditions, according to the latest Global CEO Survey carried out by the global research and advisory company Oxford Business Group (OBG).

Titled ‘Future Focused: What CEOs see on the Horizon for Emerging Markets in 2023’, the survey gauges the views of more than 200 executives from Africa, Asia, the Gulf, Latin America and the Caribbean on their near-term expectations for business.

OBG’s first Global CEO Survey since 2019 is accompanied by an in-depth analysis of the findings, together with an introductory viewpoint by Oliver Cornock, the group’s Editor-in-Chief. In addition, OBG’s regional editors comment in detail on the results for the markets they oversee. The survey can be viewed in full at https://oxfordbusinessgroup.com/ceo-surveys/global-ceo-survey-what-is-on-the-horizon-for-emerging-markets/.

Almost half of executives surveyed said they expected business conditions in their market to improve in 2023, with commodity price fluctuations cited as the biggest challenge to be faced, followed by exchange rate volatility and supply chain disruption.

Business leaders were also asked about their forecasts for revenue from in-country operations and the factors they thought risked negatively affecting corporate performance. In answer to these questions, 40% of respondents told OBG they anticipated revenue growth in the coming months, while a further 30% expected business to remain steady. Inflation gave respondents the greatest cause for concern, followed by the availability and cost of credit.

Other topical issues featured in the survey include a question on environmental, social and governance (ESG) principles. When executives were asked what single factor had influenced ESG commitments the most, responses were mixed, with an equal percentage (17%) citing regulatory requirements and corporate image and reputation.

Cornock said the results confirmed that while recovery from the COVID-19 pandemic had produced significant growth and heightened economic activity in many of the markets OBG covers, external factors, including inflationary pressure, high exposure to both commodity markets and the US dollar, as well as geopolitical uncertainty had combined to make caution the current watchword for many business leaders.

“There are nonetheless strong indicators that CEOs are prioritising the bottom line, focusing on growth through balancing the books, and understanding prevailing macroeconomic risks and the global geopolitical backdrop,” he said. “OBG’s Yellow Slice countries are characterised by strong economic fundamentals, as well as youthful populations of early adopters. Harnessing these strengths, alongside the back-to-basics approach to business, looks to be the order of the day.”

Share this article:
Share via emailShare via LinkedInPrint this page

Further reading:

Prevention-first approach to cybersecurity
News Cyber Security
Check Point CEO, Gil Shwed, highlights the increasing importance of artificial intelligence in defending evolving networks and protecting against cyber threats at annual CPX 360 customer and partner event.

Three new portable power stations to ease load shedding
News Security Services & Risk Management Products
EcoFlow has launched three portable power stations that provide sufficient power for consumers wherever they are; the DELTA 2 and RIVER 2 Series are feature-filled power solutions to the volatile electricity supply.

UJ and Schneider Electric launch 4IR Experience Room
Schneider Electric and the University of Johannesburg (UJ) Faculty of Engineering and Built Environment (FEBE) have officially unveiled the 4IR Experience Room, a first for UJ and situated at the university’s Auckland Park Campus.

SafeCity Guarding rolls out across 14 suburbs in Johannesburg
News Security Services & Risk Management
In a major drive to provide communities across Johannesburg with additional safety, Vumacam, in partnership with Fidelity ADT and other security providers across the region, rolled out the innovative SafeCity Guarding initiative in 14 suburbs.

Providing an interactive branding platform
Securex South Africa News Conferences & Events
Now in its 30th year of providing security technology and services providers with a platform for increasing their brand exposure, Securex South Africa will be held at the Gallagher Convention Centre in Midrand, from the 6th to 8th June 2023.

ALX sponsored learning programmes for 2023
Training & Education News
With a mission to harness Africa's abundant human capital by developing two million ethical and entrepreneurial young leaders from the continent by 2030, ALX has launched four fully sponsored (at no cost) tech programmes for 2023.

LockBit ransomware gang most apt to leak stolen victim data
Trellix has released The Threat Report: February 2023 from its Advanced Research Centre, combining telemetry collected from the world’s largest network of endpoint protection installs and its complete XDR product line with data gathered from open- and closed-source intelligence reports.

Schneider Electric is looking for your bold idea
Schneider Electric has launched this year’s Schneider Go Green, an annual competition that invites university students from across the globe to share their ideas for innovations that can help make the world cleaner, more inclusive, and more sustainable.

Keeping students, staff and communities safe
Vumacam News CCTV, Surveillance & Remote Monitoring Security Services & Risk Management
South African schools are facing increasing security challenges, making effective surveillance systems more important than ever. To address this issue, Vumacam is offering advanced security solutions with security partners, aimed at keeping students, staff, and the community safe.

Arcules and IMMIX announce integration
News CCTV, Surveillance & Remote Monitoring Products
Arcules has announced that its integration with Immix Central Station and Guard Force is available. The integration provides Central Station and Guard Force users a way to manage, verify, and respond to security events, while using Arcules-managed video feeds.