Let the Davos crowd debate all that's wrong in the world. CIOs and their C-suite peers are feeling good.
But there are signs of optimism in the senior ranks. World 50/G100 released a survey of 219 senior-level executives this morning that found 72% of them reporting their short-term outlook for growth to be good or excellent while 91% said the same when looking out over the next three to five years.
Technology and telecommunications executives were most pessimistic about growth prospects over the next one to three years, perhaps because they’ve felt the immediate impact of inflation most acutely in terms of costs and demand. Consumer goods leaders were most pessimistic about the longer term. Across the board, the most optimistic players were CEOs in the business services sector. With turmoil in Asia and Europe, it might not surprise you to learn that only 4% of executives from non-U.S.
The most important accelerator of growth was advances in technology, followed by an easing of the talent shortage. The biggest barriers to achieving that growth: talent and labor shortages, followed by recession and inflation. You know what isn’t really holding them back? Budget constraints and raw material shortages.If you're feeling a little wistful about not going to Davos next week, you're not alone.
Take some comfort in knowing that the annual gathering is not universally revered. When I searched “How many CIOs attend Davos” yesterday, Google served up an, a 2022 thriller by Florida-based author Alan Refkin. We find protagonist Matt Moretti in the Oval Office, telling the President “Ballinger” that he and his partner believe the annual gathering of the World Economic Forum is also a meeting spot for a secretive group called The Cabal.
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