Total 90% of Bulgarian CEOs Optimistic about Their Business in Mid-Term - PwC

As many as 90% of chief executive officers (CEOs) in Bulgaria are optimistic about their companies' development in the mid-term perspective, compared to 51% of their peers globally, global consultancy PricewaterhouseCoopers (PwC) said on Wednesday.

"Despite the high share of optimistic answers, business leaders worldwide, as well as in Bulgaria, see potential economic, political and social business threats," PwC said in a statement, presenting the results of a survey conducted among 103 senior executives in Bulgaria. The survey included a total of 1,400 senior executives from 79 countries.

More than half of the survey respondents from Bulgaria are managing companies in the consumer goods and services sector, 33% operate in the financial sector and 13% are active in information technologies and communications.

According to the survey, the main threats facing the Bulgarian business are related to the future of the eurozone, geopolitical uncertainty and unstable economic growth.

Overregulation is a major concern for 66% of Bulgarian respondents versus 80% globally. Possible tax hikes and shortage of skilled workers are also among the top threats identified by business leaders in Bulgaria and globally.

Still, almost half of Bulgarian companies expect to hire more workers over the next 12 months.

About 21% of the representatives of Bulgarian companies identify innovation as a priority area for their future development, followed by human capital with a 20% share.

About 42% of Bulgarian CEOs see greatest growth opportunities in European countries, in Germany in particular. Total 12% of businesses in Bulgaria point to Romania as a key market for their development.

As many as 45% the respondents in Bulgaria admit they are worried about cyber attacks, as compared to 61% of business leaders globally.