The Vistage CEO Confidence Index aims to collate and measure the confidence of CEOs around the world. In 2021 the Confidence Index was introduced in Malta.
Vistage Malta run the survey locally with the collaboration of The Malta Chamber, backed by the Vistage International Research Team who also share comparisons from other countries over the same period.
Brief Overview of Q1: Q1 results show that businesses are confident on economic growth, with 50% expecting positive change in the first 6 months and a further 34% believing it will take 12. They are cautious about their cash flow situation and will refrain from significant investment and recruitment initially until profitability follows revenue growth. This index is a proven trend predictor and in other countries, an early indicator of upcoming economic change.
Q2’s Confidence Index has some very interesting insights from our business leaders, that will help pave the return to business and economic growth.
The Q2 report indicates that overall confidence is lower in Q2 than Q1, yet 67% of business leaders are seeing the economy with less pessimism. There are mixed feelings about the measures, with some comments pointing to the need for better enforcement of rules, with 50% of respondents seeking greater clarity on the lifting of these measures.
Nearly 80% would welcome financial assistance or incentives to help their immediate business needs. Other assistance such as bank loan moratoriums, were mentioned. Over 40% of respondents cited difficulty with cashflow reserves of less than 6 months unless business picks up.
The vaccine roll out is creating positivity for the short and medium term aspirations of business. Whilst there are worries that foreign workers in the gaming and financial services may continue to work remotely from their homes abroad, affecting rental and local spending, the opening up of travel would help international business development.
Supply chains have been impacted by BREXIT, customs delays from outside the EU and postage delays, increasing cost and waiting time significantly, for 50% of
CEOs are worried about the absenteeism of employees due to factors including quarantine and restricted movement, high stress levels and home schooling. On talent, the most important issue for business leaders is to retain talent, and to improve employee engagement. Two-thirds of businesses expect to return to a hybrid workplace setting
with only 7% expecting to have a fully remote workforce at least until the end of the year.
25% of businesses are expecting to increase headcount in the coming months.