The UK is the third-most important country in the world for chief executives wanting to expand their businesses, according to a survey by PwC.
PwC’s 26th annual CEO survey polled more than 4,400 top chief executives in 35 countries and was released on Monday (Jan 16) to mark the start of the World Economic Forum in Davos.
The survey revealed that only the US and China were viewed as more attractive investment propositions than the UK, and tied for third place with Germany, having never previously ranked higher than fourth.
The report emphasized the UK’s strengths in technological sectors and underlying business-friendly conditions.
18 percent of CEOs surveyed said the UK was crucial to revenue growth. This was double the proportion who said this in 2020.
“CEOs don’t expand and invest on a whim — they’re choosing the UK as that’s where they expect to see returns,” commented Kevin Ellis, PWC’s chairman, and senior partner in the UK.
“That choice will be based on sector strengths in areas like AI and biotech, alongside our people-first, business-friendly environment.” Kevin Ellis added.
CEOs in the UK were also more confident than average for their companies’ revenue prospects. Nearly half – 48 percent – said they were very or extremely confident about sales prospects for the next year, compared to 42 percent of global CEOs.
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