Global GDP is expected to lift 4.2% in 2021, according to OEDC, boosted by COVID-19 vaccination campaigns, concerted health policies and government financial support. However, Accenture’s survey of 4,050 C-level executives in large companies worldwide reveals concern over the pace of the economic recovery.
Indeed, while APAC respondents anticipate a relatively quick rebound, executives in Europe and North America foresee a U-curve recovery that may take up to 18 months. They expressed mixed levels of confidence in their ability to meet growth targets.
In Europe, only four industries anticipate being back on their pre-COVID-19 profitable growth trend within 12 months: Health, Pharmaceuticals, Software & Platforms and Communication, Media & Entertainment. Further, many European C-levels believe their organizations lost ground against their APAC peers between May 2020 and November 2020.