Source: Charles Platiau/Reuters
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  • According to a survey by KPMG, the level of confidence among bosses of the world’s biggest companies is back to pre-pandemic heights
  • KPMG surveyed 1325 chief executives of businesses with annual revenues exceeding US$500 million (A$684 million)
  • Around 60 per cent were confident about the global economy over the next three years, up from 42 per cent in a similar survey earlier this year
  • Almost nine out of 10 senior executives said they were seeking takeover deals within the next three years
  • Nearly 80 per cent also said a proposed global minimum tax system was of “significant concern”

According to a survey by KPMG, the level of confidence among bosses of the world’s biggest companies is back to pre-pandemic heights, with many contemplating new acquisitions to further drive growth.

Between June 29 and August 6, the professional services firm surveyed 1325 chief executives of businesses with annual revenues exceeding US$500 million (A$684 million) across Australia, Canada, China, France, Germany, India, Italy, Japan, Spain, Britain and the United States.

While a significant degree of uncertainty remains due to the Delta strain of COVID-19, around 60 per cent of respondents were confident about the global economy over the next three years, up from 42 per cent in a similar survey earlier this year.

Almost nine out of 10 senior executives said they were seeking takeover deals within the next three years.

“Despite the continued uncertainty around the pandemic, CEOs are increasingly confident that the global economy is coming back strong,” said Bill Thomas, KPMG’s global chairman and chief executive.

The majority of CEOs saw cyber crime, climate change and supply chain risks as the biggest threats to growth, with more than half claiming their supply chains had come under pressure as a result of the pandemic.

Nearly 80 per cent also said a proposed global minimum tax system was of “significant concern” regarding their growth objectives.

Contrary to August last year, when more than two thirds of those surveyed said they planned to cut their office space, just 21 per cent in the new survey said they intended to downsize.

Almost 40 per cent had implemented a hybrid work model for staff, with most employees working remotely two or three days a week.

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