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KPMG: CEOs globally show greater confidence

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KPMG: CEOs globally show greater confidence

New study shows that CEOs continue to transform their organizations and are increasingly concerned about product relevance, customer loyalty and new technologies.

In a major new study released by professional services firm KPMG International, which tracks insights on the coming three years, chief executives of global businesses said they are confident about the ability of their companies to grow over the next three years and are expressing confidence about the prospects for the global economy.

According to the study, 69% of CEOs in Europe, 66% in Asia Pacific and 52% in the US are more confident than they were last year about growth and the global economy in the next three years. In assessing their own company's growth prospects, 70% of European CEOs and 68% of Asia Pacific CEOs indicated they are more confident than a year ago. In the US, where the recovery is well underway, 19% are more confident than a year ago with another 46% expressing the same level of confidence about their prospects for growth. Most importantly, CEOs globally are set to hire, with 78% of respondents indicating they are expecting to be in hiring mode through mid-2018.

"CEOs continue to confront business challenges of unprecedented complexity."

"The overall message we've gotten from CEOs around the globe is that they are positive about their prospects over the next three years, and importantly that they are looking to hire more people," said John Veihmeyer, Global Chairman of KPMG International. "There is a more positive change in confidence versus the prior year, in Europe and Asia compared to the US, which is in part reflective of the US being in a more advanced stage of the economic recovery."

According to the study, CEOs are grappling with escalating competitive pressures. In order of importance: 86% are concerned about the loyalty of their customers; 74% are worried about new market entrants; 72% are worried about keeping pace with new technologies; 68% are concerned about their competitors' ability to take business away from them; and 66% are concerned about the relevance of their product or service in the next three years.

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