In July and August this year, PwC Philippines and the Management Association of the Philippines conducted a survey among 119 chief executive officers of Philippine companies. The CEOs were asked many questions, but primarily about how optimistic they are about the Philippine economy in the coming months and years. The survey was also conducted just a few weeks into the new administration.
87% percent of the CEOs said they were confident that their companies will experience revenue growth in the next 12 months, despite the presence of global and local issues that confronted business leaders this year, and even as 35% of businesses still have not yet recovered from the pandemic.
52% of those surveyed acknowledged that it would take more than two years for the Philippine economy to recover from the scars of the COVID-19 pandemic.
Further, according to the survey, the CEOs believe that infrastructure development, domestic consumption, and government spending will be the major growth drivers of the next year. To recover from the pandemic, they say that the government should make agriculture, education, and healthcare a priority. The government should work toward accountability and transparency, fight corruption, and attract foreign investments. Corruption, low investments, and political uncertainty would most definitely not be good for the economy and business.
I am curious to know what you think of these findings, and what you yourself believe even if you are not one of those included in the survey. I wonder if you yourself have recovered from the pandemic, and what aspects of your business it has profoundly changed. What lessons have you learned and what changes did your organization go through in order to make it to today? Have your business priorities changed before and after the pandemic? How do you now perceive change – anticipated or not?
Please be assured that as your partner in using and maximizing cloud technology for the good of your business, CloudTech Solutions is always aware that each business is unique, that you operate in different contexts and that your needs and requirements will be specific to your organization. Thus, we will take great effort to understand how your business works so that we can fit technology into your business, not the other way around. We will always be here to guide you as you journey toward your own recovery and to help you become more competitive and growth driven even as you also aim for sustainability.
We all have reasons to be optimistic. Please know that your having us as your partner would always be a reason for your optimism.