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PwC's 2026 Global CEO Survey reveals that only 30% of CEOs
worldwide are confident about revenue growth in the next 12 months,
the lowest in five years. The decline is linked to challenges in
realising financial returns from AI investments and rising cyber
and geopolitical risks. In contrast, Malta's most recent CEO
Confidence Tracker shows resilience, with 69% of local CEOs
reporting stronger results in 2025 and 92% expecting stable or
improved economic conditions in the coming months.
"Malta's CEOs are navigating global uncertainty from a
position of relative resilience. The contrast with the global
confidence dip underscores the importance for Malta‑based
companies to stay the course on transformation, especially AI
foundations and cyber preparedness, while continuing to invest for
growth," said Lucienne Pace Ross, Territory Senior Partner,
PwC Malta.
AI emerges as a defining divide globally, with the CEOs'
biggest question being whether they are transforming fast enough to
keep pace with technological change, including AI. 42% cite this as
their top concern, ahead of worries about innovation capability or
medium‑to‑long‑term viability (both 29%).
The survey highlights a growing gap between companies piloting AI
and those deploying it at scale. CEOs reporting both cost and
revenue gains are two to three times more likely to have embedded
AI extensively across products and services, demand generation, and
strategic decision‑making.
Global concern about cyber risk has risen sharply, with 31% of CEOs
now citing it as a major threat; up from 24% last year and 21% two
years ago. In response, 84% say they plan to strengthen
enterprise‑wide cybersecurity as part of their response to
geopolitical risk. Exposure to tariffs is also weighing on
confidence: one in five CEOs globally (20%) report high or extreme
risk of significant financial loss from tariffs over the next 12
months.
However, despite this challenging backdrop, CEOs are pursuing
reinvention. Globally, more than four in ten (42%) say their
company has begun competing in new sectors in the past five years.
Of those planning major acquisitions, 44% expect to invest outside
their current industry, most often in technology. A little over
half (51%) plan international investments in the year ahead, with
the United States remaining the top destination (35% ranking it
among their top three), followed by the UK and Germany (both 13%),
the Chinese Mainland (10%), and rising interest in India
(13%).
"2026 is shaping up as a decisive year for AI. A small group
of companies are already turning AI into measurable financial
returns, while many others are still struggling to move beyond
pilots. That gap is starting to show up in confidence and
competitiveness, and it will widen quickly for those that don't
act," said Mohamed Kande, PwC Global Chairman.
"In periods of rapid change, the instinct to slow down is
understandable—but it's also risky. The value at stake
across the global economy is increasing, and the window to capture
it is narrowing. The companies that succeed will be those willing
to make bold decisions and invest with conviction in the
capabilities that matter most," he concluded.
The PwC 2026 Global CEO Survey is available at
www.pwc.com/ceosurvey.
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