Phl CEOs most bullish since pandemic - survey

Philippine chief executive officers (CEO) are at the most optimistic they have ever been in terms of industry prospects since the pandemic, but geopolitical uncertainty is a major concern keeping them up at night, according to a survey of the Management Association of the Philippines (MAP) and PwC Philippines.

- LOUELLA DESIDERIO

Results of the 2024 Philippine CEO Survey presented in a press conference yesterday showed that 86 percent of the surveyed Philippine CEOs are confident about their industry’s prospects for the next 12 months.

Trissy Rogacion, deals and corporate finance partner at PwC Philippines said this is the highest level of optimism since the pandemic.

Conducted from July to August, the survey covered 168 business leaders.

The survey also showed that 86 percent are upbeat their company would experience revenue growth in the next three years.

“What helped drive optimism among our CEOs here in the Philippines is mainly our country’s economic growth,” Rogacion said.

The Philippine economy posted 6.3 percent growth in the second quarter of this year, faster than the 4.3 percent growth in the same quarter last year and the revised 5.8 percent growth in the first quarter of 2024.

This brought economic growth in the first semester to six percent, within the six to seven percent target of the government for this year.