European companies are beginning to take action, as a longer and more unstable recovery is expected.
Business leaders everywhere are under enormous pressure due to the pandemic just to guide their companies through the next, day, week, month and year. There is continued uncertainty about the shape of the recovery and to what degree government stimulus will shore up the business environment.
Optimism for a fast recovery from the impact of coronavirus has waned among business leaders over the last few months.
According to 700 C-level executives interviewed in July, only 17% now expect the recovery in Europe to be V-shaped, down from 30% in May. This belief is echoed across North America and Asia, with a growing number now believing the economic damage will last for a much longer period before reaching the baseline level of growth again.
Optimism for a fast recovery in Europe has waned in recent months
European companies in a post-COVID-19 world
Accelerating digital transformation
Finding new growth models by leveraging disruptive technologies
Creating a new working environment and corporate culture
Reinventing customer experiences
About the research
The research is based on a survey of 700 C-suite executives in 10 countries across 15 industries. The survey was conducted online and by telephone between 19 June and 17 July 2020. Each interview took 20 minutes. Industries represented include: airlines/travel/transport; automotive; banking; communications/media/entertainment; chemicals; consumer goods; energy; high tech; industrial goods & equipment; insurance; pharmaceutical/biotech/life sciences; public services; retail; software/platforms; and utilities. Countries represented: Australia, Canada, China, France, Germany, Italy, Japan, Spain, the United Kingdom and the United States.