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As we enter 2025, CEOs in Switzerland find themselves navigating a landscape marked by cautious optimism and complex challenges. While geopolitical shifts, technological advancements, and hopes for political stability and conflict resolution inspire confidence, issues like climate change and evolving regulations temper expectations.
Only two years after GenAI arrived on the radar of most executives as a transformative course, companies are adopting it at scale, globally. At the same time, climate-related uncertainties demand flexible strategies and proactive engagement. Ultimately, CEOs in Switzerland are navigating an era of transformation where challenges and opportunities are closely intertwined.
By leveraging AI, embracing adaptive strategies, and committing to innovation through effective decision-making, Swiss business leaders can turn uncertainty into competitive advantage and ensure sustainable success.
The current pulse
CEOs in Switzerland are striving for safety and security to maintain their status as a trusted market. This is reflected by the fact that they still view cyber risks as their top threat, with 37% saying that they feel highly or extremely exposed.
Turning the tables
How confident are CEOs in today's economy?
- Over half (56%) of CEOs in Switzerland believe global economic growth (GDP) will improve over the next 12 months, 23% believe it will remain stable and 20% predict a decline.
- Two-thirds (68%) of CEOs in this country believe economic growth (GDP) will improve in Switzerland, compared with slightly over a third (38%) in 2023. Only 9% predict a decline.
- In total, 89% of CEOs in Switzerland believe this country’s economy will either stay the same or grow, making them the most optimistic compared to their peers worldwide.
- Almost half of CEOs in this country (49%) are planning capital expenditure on operations within Switzerland in the next 12 months. This puts them at second place regarding domestic capital expenditure, behind Latin America with 51%.
- However almost a quarter of those CEOs (23%) intend to allocate at least half (51% or more) of their capital expenditure internationally during the same period, making them the highest globally in this regard.
Outlook and threats
What opportunities and threats do they see on the horizon?
- The biggest threat CEOs feel exposed to within Switzerland is cyber risks (37%), followed by geopolitical conflict (23%) and macroeconomic volatility (17%).
- CEOs in Switzerland see macroeconomic volatility as less of a threat than their peers globally and across EMEA (22% and 30% respectively); they also feel much less threatened by inflation (ranked at 31% in EMEA and 27% globally).
- CEOs globally still feel that cyber risks are a threat (24%), but for CEOs in EMEA, the threat of geopolitical conflict is an even greater concern (30%).
Two defining issues
The two greatest challenges cited by CEOs in Switzerland when it comes to making climate-friendly investments have been a lack of demand from external holders and regulatory complexity. Both these figures were even significantly higher than the year before.
Artificial Intelligence
How will Artificial intelligence shape the future of business and society, and fuel transformation in the decade to come?
- Four out of five CEOs in Switzerland (84%) have adopted generative AI within the last 12 months. This is a stark difference to last year’s 16%.
- Over half (52%) report that GenAI has increased both their own and employees’ efficiency at work; 22% saw an increase in profitability, 17% an increase in revenue and 6% an increase in headcount.
- None of the CEOs in this country have seen revenue decline because of GenAI adoption, compared with 3% across EMEA and globally.
- Looking forward, a third of CEOs in Switzerland (34%) believe that generative AI will increase their company’s profitability in the next 12 months.
Climate and sustainability
How will Climate and sustainability actions shape the future of business and society, and fuel transformation in the decade to come?
- Nine out of ten (91%) CEOs in Switzerland have initiated climate-friendly investments in the last five years, the highest percentage worldwide.
- In the last five years, a quarter (25%) of CEOs worldwide have not accepted rates of return for climate-friendly investments that were lower than the minimum acceptable rate of return used for other investments. This trend is also seen across EMEA (19%) and even slightly higher in Switzerland (26%).
- Climate-friendly investments initiated by companies in Switzerland in the last five years have generally led to an increase in revenue (31%) and government incentives received (21%); 16% of CEOs report a decrease in costs.
- Similar to last year, CEOs’ main challenges when it comes to making climate-friendly investments in Switzerland were lack of demand from external stakeholders (47%), regulatory complexity (46%), lower returns for climate-friendly investments (33%) and, finally, a lack of buy-in from the management team or board (11%).
- Breaking the findings down by region, it emerges that CEOs in Switzerland and EMEA are slightly more challenged than their global counterparts when it comes to lack of demand from external stakeholders. However, CEOs in Switzerland see accepting lower returns for those investments, management buy-in, navigating regulatory complexities, and the availability of finance as less challenging than their both their peers in EMEA and globally.
Business as (un)usual
To stay relevant, Swiss companies are stepping up collaboration, for example between sectors and academia, to leverage AI and other emerging technologies. CEOs recognise that future competitiveness will depend on differentiating products and services while also capturing new customer segments.
Transformation pressure
What transformation actions have CEOs in Switzerland taken over the last five years?
- Three out of four (75%) of CEOs in Switzerland have developed innovative products or services in the last five years; over half (56%) have focused on expanding their customer base and 59% have collaborated with new organisations.
- The percentage of CEOs in Switzerland who have developed innovative products or services is higher than for their peers worldwide. However, fewer than half (46%) of CEOs in this country have targeted new routes to market and implemented new pricing models over the last five years, making them the least to do so compared to their global peers.
- CEOs in Switzerland report that 80% of their revenue comes from their core business; 13% is generated from extensions to the core business and 7% from fundamentally distinct businesses.
Sector convergence
A global trend
- One in four CEOs in Switzerland (26%) report entering new industries in the last five years.
- CEOs in Switzerland have the lowest percentage of venturing into new sectors over the past five years, compared to their peers worldwide.
- Global findings show that over a third of CEOs globally (38%) have ventured into new sectors in the last five years and that 20% or more of their revenue has been generated from these new sectors.
Continual transformation
Despite a healthy, mature, core business, CEOs in Switzerland also show an appetite for seizing and leveraging new technologies to differentiate themselves and maintain their competitive advantage in the market.
Pay attention to decision quality
- Four out of five CEOs (79%) in Switzerland make the criteria for determining strategic decisions transparent, 72% discuss the decision as part of the firm’s overall portfolio of decisions, and 70% take the time to consider whether they are pursuing the wrong opportunities.
- Fewer than half (40%) assign explicit probabilities to distinct outcomes, 51% include information that could contradict the investment hypothesis, and 55% intentionally evaluate whether they are pursuing the wrong opportunities.
Reallocate to transform
- In Switzerland, 47% of CEOs have reallocated 1% to 10% of their company’s financial resources in the last year.
- Over half (56%) have reallocated 1% to 10% of their company’s human resources in the last year.
- Only 41% of their global peers have reallocated 1% to 10% of their human resources and 34% have reallocated 1% to 10% of their financial resources.
Trust the transformation process
- Almost half (49%) of CEOs in Switzerland are extremely confident in their prospects of revenue growth in the next three years; 30% are confident in their prospects of growth in the next twelve months.
- Ten percent are not confident in their prospects of revenue growth in the next 12 months; only 1% are not confident in their prospects of revenue growth in the next three years.
Four out of five CEOs (85%) in Switzerland are confident in their strategic planning process, 84% in their budgeting process and 80% in their risk management processes.
The top processes described by CEOs as having “evolved in an unplanned way” are tax (18%), talent management (16%) and procurement (12%).
Navigating transformation for viability
- Over half (57%) of CEOs in Switzerland are confident that their business will last over 10 years.
- Almost two-thirds (66%) name correct strategic choices as factor influencing the high economic viability of their business, followed by organisational efficiency (49%) and changes in the regulatory environment (47%).
- Of those who don’t believe their business will be viable in the next ten years, 64% see changes in the regulatory environment as an influencing factor (64%), 42% weak pricing power over their company’s products/services, and a third (36%) the increasing costs of products/services.
Solve the AI trust equation
- Less than a third (27%) of CEOs in Switzerland have a high degree of personal trust in having AI embedded into key business processes. The highest percentage of CEOs who personally trust in having AI embedded into key business processes is Latin America with 38% of CEOs.
- However, 4 out 5 (85%) CEOs in Switzerland predict that AI will be systematically integrated into business processes and workflows, 78% into technology platforms and 75% into workforce and skills.
- In a global comparison, more CEOs in Switzerland foresee the integration of AI in the areas above, but when it comes to integrating AI into developing new products/services and core business strategy, CEOs in Switzerland are slightly more reluctant than their peers in EMEA and globally.
What the survey means for your industry
- Consumer markets: Sabine Durand Hayes
- Energy, utilities and resources: Jeroen van Hoof
- Financial services: Matthew Falconer
- Government and public services: Agnieszka Gajewska
- Healthcare: Anthony Bruce
- Industrials and services: Ryan Hawk
- Technology, media and telecom: Wilson Chow
Consumer markets: Sabine Durand Hayes
Adapting to shifting consumer behaviours
3:50
Consumer markets: Sabine Durand Hayes
Consumer markets CEOs are charting new paths: tackling inflation and supply chain challenges by prioritising agility, boosting efficiency and embracing climate initiatives to secure sustainable growth as consumer behaviours change.
Contact our Swiss consumer markets experts
Energy, utilities and resources: Jeroen van Hoof
Seizing the energy transition opportunity
2:26
Energy, utilities and resources: Jeroen van Hoof
Amid climate and geopolitical challenges, energy, utilities and resources companies are making gains in sustainability. By harnessing AI and transitioning to renewables, they can lead a unified move toward a resilient future.
Contact our Swiss energy, utilities and resources experts
Financial services: Matthew Falconer
Protecting and creating value with GenAI
2:49
Financial services: Matthew Falconer
Financial services firms, which face significant risks from technological and cyber disruptions, are transforming their business models by using AI to foster innovation and growth.
Contact our Swiss financial services experts
Government and public services: Agnieszka Gajewska
Driving transformative collaboration
3:31
Government and public sector: Agnieszka Gajewska
CEOs in our survey express doubts about their companies’ long-term viability. This finding underscores an opportunity for governments and the private sector to collaborate, balancing regulation and technology to facilitate sustainable growth.
Contact our Swiss government and public sector experts
Healthcare: Anthony Bruce
Focusing on the patient
3:04
Healthcare: Antony Bruce
Healthcare CEOs are optimistic about short-term growth but less positive about their companies’ long-term prospects. Rapid industry changes and AI advancements require reinventing business models to make the most of new opportunities and ensure continued success.
Contact our Swiss health industries experts
Industrials and services: Ryan Hawk
Charting new paths for growth
2:24
Industrials and services: Ryan Hawk
Industrials and services companies are reinventing their business models to drive growth, actively exploring new sectors while balancing the pursuit of long-term AI transformation with the demand for immediate results.
Contact our Swiss industrial manufacturing experts
Daniel Anliker
Industrial Manufacturing & Automotive Territory Leader, Partner Assurance, PwC Switzerland
Technology, media and telecom: Wilson Chow
Navigating AI’s dual role
2:58
Technology, media and telecom: Wilson Chow
Companies in technology, media and telecom are harnessing AI to reinvent their business models, with the aim of enhancing innovation and efficiency while spurring transformative change in other industries.
Contact our Swiss technology, media and telecom experts
Download the report
https://pages.pwc.ch/view-form?id=701Vl00000VdudCIAR&embed=true&lang=en
The results and interpretation of the 28th Annual Global CEO Survey conducted by PwC Global are available here:
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Contact us
CEO, Zurich, PwC Switzerland
Stéphanie Tobler Mucznik