53% of APAC CEOs believe their business models will not survive within the next decade

Asia Pacific CEOs eye three changes in their business models.

Business leaders in Asia-Pacific are now rethinking aspects of the business models, with 53% saying that if they were to continue on their current path, their companies will not be economically viable in the next decade.

CEOs in APAC are planning to adjust their presence in the current market and/or expand to new markets (53%),  adjust supply chains (49%), and diversify their offering (48%) to respond to geopolitical and economic changes.

According to PwC, 69% of CEOs believe global economic growth will decline over the next 12 months. Last year, 76% of them felt growth would improve.

The impact of the economic downturn is top-of-mind for Asia Pacific CEOs this year, with inflation (41%) and macroeconomic volatility (30%) leading to the risks weighing on CEOs in both the short term and medium term.

Geopolitical conflict (30%) is also amongst the top risks CEOs in APAC are concerned about.