Philippine business leaders remain positive about their industries’ future and are planning to boost investment in their workforce, technology and business operations to fuel growth, a joint research done by an audit firm and a management group said.
The results of the latest Philippine CEO Survey, a collaboration between auditing firm Isla Lipana & Co. PwC Philippines and the Management Association of the Philippines (MAP), show responses from nearly 200 Philippine-based CEOs, most of whom are MAP members.
The survey explores how shifting global dynamics and rapid changes are reshaping leadership strategies.
The results are consistent with previous years, showing strong optimism among CEOs. According to Isla Lipana, 83 percent are confident about their industry’s prospects, and 84 percent anticipate revenue growth.
This positive outlook is supported by a strong economic foundation, including a robust monetary policy, a stable banking system, and inflation that is in line with government targets, the research said.
It also said sustained consumer spending, fueled by remittances and infrastructure projects, along with continued growth in bank lending and domestic liquidity, contribute to this confidence.
However, the survey also highlights significant challenges.
More than half of the CEOs surveyed (52 percent) believe their current business models will not be viable in 10 years without major changes.
When asked about key threats to their organization, 94 percent identified inflation risk, followed closely by macroeconomic volatility at 93 percent. As the digital economy expands, 84 percent of CEOs also expressed concern about rising cyber risks.
Regarding AI, 68 percent have already integrated AI initiatives into their strategies, and 60 percent have begun implementation.
The majority (89 percent) believe AI will improve their products or services, and they recognize the importance of upskilling their employees to ensure their companies’ long-term viability.
Yet, a skills gap remains a top concern, with 62 percent of CEOs worried about talent retention and skill shortages. Other challenges include resource constraints (51 percent) and balancing short-term demands with long-term goals (47 percent).
The report concludes that these pressures are leading to more frequent strategy reviews, with 45 percent of CEOs reporting shorter timelines for these reviews.
