It may come as no surprise that “economic or financial collapse” is the greatest fear most European CEOs have, according to a new study by the CEOWORLD magazine.
Confidence is at a low – Looking into 2017, only 27.7% of CEOs predicted the European economy will improve in before second half of 2017.
What’s more, 31% said global economic growth is likely to decline.
Falling oil prices, China’s slowing economy, and Corruption of government officials are just some of the things that are keeping senior executives in Europe awake at night.
Nearly 67% said they were worried about overregulation and 68% cited the threat of higher taxes.
More than 12,600 CEOs, business leaders, and other senior executives across 28 European nations were surveyed to understand their fears, 78% were male, 22% were female.
What really scares European CEOs, here are the top 10 fears of 2016:
1. Economic or financial collapse (72.3% Afraid or Very Afraid)
2. Threat of higher taxes (68.2% Afraid or Very Afraid)
3. Overregulation (66.9% Afraid or Very Afraid)
4. Corruption of government officials (65.8% Afraid or Very Afraid)
5. Rising disenchantment with the EU (62.4% Afraid or Very Afraid)
6. Geopolitical conflicts (53.2% Afraid or Very Afraid)
7. Falling oil prices (51.8% Afraid or Very Afraid)
8. China’s slowing economy (51.6% Afraid or Very Afraid)
9. Global warming and climate change (50.8% Afraid or Very Afraid)
10. Global warming and climate change (43.7% Afraid or Very Afraid)
The study is based on a survey with 2,600 top executives and business leaders in Germany, France, Italy, Spain, Poland, Romania, Netherlands, Belgium, Greece, Czech Republic, Portugal, Hungary, Sweden, Austria, Bulgaria, Denmark, Finland, Slovakia, Ireland, Croatia, Lithuania, Slovenia, Latvia, Estonia, Cyprus, Luxembourg, Malta, and the the United Kingdom, from August 11 – October 11 this year.