A new survey reveals that three-quarters of Irish CEOs anticipate an upswing in economic growth over the next year, marking a significant rise in optimism compared to previous years.
The latest findings, gathered from business leaders across the country, show a notable jump from last year’s 50% and a substantial improvement from the 2020 low of just 16%.
Additionally, nearly two-thirds of Irish executives expect the global economy to strengthen in the coming year—outpacing the confidence levels of their international counterparts.
"Irish CEOs have proven to be extremely resilient," said David McGee, ESG leader at PwC Ireland. "They've taken Brexit, global pandemics and they just keep picking up."
The survey was carried out in the run-up to the U.S. Presidential election, with only a portion of responses collected after Donald Trump's victory. However, Mr. McGee believes the overall results would likely remain largely unchanged if the survey were conducted today.
"People don't like uncertainty, and there's a lot of uncertainty around," he said. "But I think people would have been pricing [a Trump win] in to their responses and looking at the election closely in that time."
Despite the optimistic outlook, fewer than half of CEOs expect to expand their workforce over the next year, with some anticipating a reduction in staff numbers.
A key factor behind this trend is the growing emphasis on generative artificial intelligence.
While Irish business leaders had mixed opinions on the direct benefits AI has delivered so far, half of those surveyed still believe it will boost revenue in the year ahead.
"Looking back over the last 12 months, just under half said they could see some efficiency gains in their organisation," he said. "When they look out over the next three years, they think it will be systemically embedded in everything they do and it will start driving revenue, cost and profit improvement."
The PwC survey also finds that fewer CEOs here see climate change as a major risk. 76% are concerned about it, down 20 percentage points in three years.
The latest findings, gathered from business leaders across the country, show a notable jump from last year’s 50% and a substantial improvement from the 2020 low of just 16%.
Additionally, nearly two-thirds of Irish executives expect the global economy to strengthen in the coming year—outpacing the confidence levels of their international counterparts.
"Irish CEOs have proven to be extremely resilient," said David McGee, ESG leader at PwC Ireland. "They've taken Brexit, global pandemics and they just keep picking up."
The survey was carried out in the run-up to the U.S. Presidential election, with only a portion of responses collected after Donald Trump's victory. However, Mr. McGee believes the overall results would likely remain largely unchanged if the survey were conducted today.
"People don't like uncertainty, and there's a lot of uncertainty around," he said. "But I think people would have been pricing [a Trump win] in to their responses and looking at the election closely in that time."
Despite the optimistic outlook, fewer than half of CEOs expect to expand their workforce over the next year, with some anticipating a reduction in staff numbers.
A key factor behind this trend is the growing emphasis on generative artificial intelligence.
While Irish business leaders had mixed opinions on the direct benefits AI has delivered so far, half of those surveyed still believe it will boost revenue in the year ahead.
"Looking back over the last 12 months, just under half said they could see some efficiency gains in their organisation," he said. "When they look out over the next three years, they think it will be systemically embedded in everything they do and it will start driving revenue, cost and profit improvement."
The PwC survey also finds that fewer CEOs here see climate change as a major risk. 76% are concerned about it, down 20 percentage points in three years.
