Pisit Thangtanagul, CEO of PwC Thailand, revealed that confidence among Thai CEOs towards the recovery of both domestic and global economies has slightly declined.
Only 44% are optimistic about the global economy improving by 2025, reflecting a 1% decrease from the previous year, and 51% believe the domestic economy will improve this year, also a 1% decrease from last year.
Meanwhile, 27% express high or very high confidence in their company’s revenue this year, with optimism increasing to 44% for the outlook over the next three years.
Notably, 61% of Thai CEOs noted that their businesses might not survive the next decade if they continue operating with current practices, a decrease from 67% in last year’s survey.
As 2025 approaches, CEOs are urged to exercise caution in their management. Essential to thriving in the challenging environment is the need to boldly reform business models to innovate the ways they create, deliver, and source new value.
Regarding risk factors of concern to Thai business leaders, macroeconomic volatility and cyber risks top the list, both cited by 24% of respondents. These are followed by inflation and technological disruptions, each cited by 20%, and shortages of skilled labor alongside climate change, each noted by 15%. Thai CEOs remain cautious about their business operations in the near future.
