The Middle East's leading chief executive officers are confident the region is moving towards economic recovery, according to a key survey.
More than 80 per cent of the Middle East-based CEOs who responded to the PricewaterhouseCoopers 13th Annual Global CEO Survey said they are confident of their prospects in the next 12 months and 79 per cent are expecting a recovery in their national economies in the next two years.
More than a third of Middle East respondents, 39 per cent, went on to say they believe their national economy has either already rebounded or will rebound by the middle of this year.
The global recession has also led business leaders to rethink their approach to risk and CEOs now recognise the increasing importance of reshaping their strategies in order to address risk at a deeper level.
One in five CEOs say their board of directors is significantly more engaged in assessing strategic risk indicating a move beyond controls-based risk management to corporate strategy and financial management.