Almost 90% of UAE CEOs hope to see growth in their respective industries in the course of the next 3 years, according to the latest survey.
In spite of ongoing economic challenges, The CEO Outlook Survey by professional services firm KPMG reveals an optimistic outlook in the country.
The survey showed that 64% of Chief Executive Officers in the Emirates expect their business operations and processes to scale up and are therefore ready to invest in innovation, more than CEOs from anywhere else in the world.
Other than that, the survey showed that 84% are ready to invest heavily in data analytics tools and robotic process automation, as well as in cognitive technologies.
Presumably this occurrence is a response to expected disruption, as 60% of UAE respondents anticipate that some form of disruption will hit their sector over the coming years: whether it be the introduction of value added tax or regional and geopolitical issues.
‘Despite lower oil prices, a new tax regime and geopolitical issues, the optimism shown by CEOs reflects a growing maturity and confidence in CEOs’ and their organisations’ ability to adjust to a new reality and develop other non-oil driven sources of business,’ said Vijay Malhotra, chairman and CEO of KPMG in the UAE and Oman.
Similar levels of confidence were noticed in the wider GCC, where 92% of CEOs said they expect growth of their industries over the next 3 years.