C-Suite Outlook 2024: Europe Edition
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C-Suite Outlook

C-Suite Outlook 2024: Europe Edition

27 February 2024 / Report

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Since 1999, The Conference Board has surveyed CEOs and later C-Suite executives across the globe to identify the most critical issues they face and the strategies they’re developing to meet them. This report delves into the perspectives of European C-Suite executives on the challenges, risks, and opportunities that lie ahead in 2024 and beyond.

Trusted Insights for What’s Ahead™

Recession fears remain a top external concern for CEOs in Europe

  • CEOs in Europe cite economic downturn/recession as the number one external factor expected to have the greatest impact on their organization in 2024. As headwinds to the Euro Area’s economic outlook persist and its growth momentum remains extremely fragile, the likelihood of an economic downturn in 2024 has put European businesses on edge.
  • Global political instability, inflation, and higher borrowing costs—all of which contribute to higher costs of doing business—are key factors further stoking CEOs’ recession fears. They also cite the possible recurrence of a global financial crisis as a top-five external high-impact factor for their businesses, significantly higher than their peers in the US or the global average.
  • A possible escalation of the wars in Ukraine and the Middle East, higher energy prices, and intensifying trade wars are top geopolitical risks troubling business leaders in Europe. European CEOs in our survey see the war in the Middle East or the possibility of the war in Ukraine spilling over into a broader NATO conflict as much bigger risks to their business operations than their global counterparts.

Since 1999, The Conference Board has surveyed CEOs and later C-Suite executives across the globe to identify the most critical issues they face and the strategies they’re developing to meet them. This report delves into the perspectives of European C-Suite executives on the challenges, risks, and opportunities that lie ahead in 2024 and beyond.

Trusted Insights for What’s Ahead™

Recession fears remain a top external concern for CEOs in Europe

  • CEOs in Europe cite economic downturn/recession as the number one external factor expected to have the greatest impact on their organization in 2024. As headwinds to the Euro Area’s economic outlook persist and its growth momentum remains extremely fragile, the likelihood of an economic downturn in 2024 has put European businesses on edge.
  • Global political instability, inflation, and higher borrowing costs—all of which contribute to higher costs of doing business—are key factors further stoking CEOs’ recession fears. They also cite the possible recurrence of a global financial crisis as a top-five external high-impact factor for their businesses, significantly higher than their peers in the US or the global average.
  • A possible escalation of the wars in Ukraine and the Middle East, higher energy prices, and intensifying trade wars are top geopolitical risks troubling business leaders in Europe. European CEOs in our survey see the war in the Middle East or the possibility of the war in Ukraine spilling over into a broader NATO conflict as much bigger risks to their business operations than their global counterparts.
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Author

Konstantinos Panitsas

Konstantinos Panitsas Konstantinos Panitsas

Economist
The Conference Board

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