Oxford business group launches first GCC covid-19 CEO survey

A new Covid-19 CEO Survey carried out by the global research and advisory company Oxford Business Group (OBG) assesses the thoughts of GCC-based executives on the economic impact of the coronavirus, their reaction to how the pandemic is being handled by their respective governments and their expectations for recovery.

Titled “Crisis management: How are CEOs responding to the pandemic?”, the survey covers several topical issues and trends, from the role of technology in containing Covid-19 and the increased focus on localisation to the influence that lower oil prices could have on new growth.

Alongside the findings, the survey includes an in-depth analysis of the answers and the broader economic climate in which they were obtained by Billy FitzHerbert, OBG’s Regional Editor for the Middle East.

The results of the survey can be viewed in full at https://oxfordbusinessgroup.com/news/despite-covid-19-south-east-asian-investors-prepare-flurry-ipos 

OBG began producing its CEO Surveys in 2016 as a way of giving licence-holders a handle on business sentiment in the economies it covers, termed The Yellow Slice (TYS), in reference to its corporate colour. Since then, they have become a highly popular and integral part of the firm’s portfolio of research tools. 

In this latest survey, the majority (61%) of executives surveyed told OBG that they were satisfied or very satisfied with their government’s economic response to the pandemic, a finding that reflects the swift and effective action taken across the region which led to some of the lowest case fatality rates in the world.

Significantly, the vast majority (90%) of business leaders said they had implemented remote working and meeting protocols as a result of the coronavirus, in a sign that broad-based efforts to bolster digital infrastructure and digital literacy in recent years have paid off. Half of those surveyed told OBG that they believe the pandemic will significantly or very significantly change communication and interaction with their clients and customers.

The pandemic has wreaked havoc on supply chains worldwide, causing delays for businesses operating across the economic sectors, including those in the Gulf. More than four-fifths (83%) of respondents told OBG that Covid-19 had disrupted their supply chains. In an indication that some decision-makers are keen to avoid further supply issues, almost one-third (31%) of those surveyed said they were likely or very likely to relocate their supply chains more locally.

Lower oil prices inevitably remain a cause of concern among business leaders in a region that has felt the weight of falling demand for energy worldwide. More than two-thirds (67%) of CEOs interviewed by OBG said they believe oil prices will significantly or very significantly impact recovery in their sector.

However, a higher proportion (73%) expected their company to be operating above 60% capacity by September 2020 – a finding in line with the mood of cautious optimism evident across the region, according to FitzHerbert.

“Moving forward, business and consumer sentiment is going to be an important factor as authorities look to get economies moving again, fuelled by consumer and business spending,” he noted. 

FitzHerbert’s viewpoint can be found in full on OBG’s Editor’s Blog, alongside additional analysis by all four of OBG’s Regional Editors on the markets that they cover. Titled “Next Frontier”, the blog serves as a platform for OBG’s experts to share their thoughts on the latest developments taking place across the sectors of the 30+ high-growth markets covered by the company’s research.  

The OBG CEO Surveys feature in the Group’s extensive portfolio of research tools. The full results of the surveys are available online and in print. Similar studies are also under way in the many markets in which OBG operates.

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About OBG CEO Surveys

OBG CEO Survey Copyright (c). All rights reserved. 

This survey has been designed to assess business sentiment among business leaders (Chief Executives or equivalent) and their outlook in light of Covid-19. For this special edition, the survey was conducted online by OBG staff, across the full range of industries, company sizes and functional specialties. The results are anonymous. This GCC Covid-19 CEO Survey is based on 103 responses from companies within the following parameters, among others:

• 18.4% of companies surveyed were from the UAE
• 16.5% of companies surveyed were from Bahrain
• 14.6% of companies surveyed were from Saudi Arabia
• 14.6% of companies surveyed were from Oman
• 12.6% of companies surveyed were from Qatar
• 11.7% of companies surveyed were from Kuwait
• 11.7% of companies surveyed were from other countries in the region

The data generated allows for analysis of sentiment within an individual country, as well as regionally and globally. Additionally, comparisons can be drawn between both individual countries and regionally. The results are presented statistically within infographics and discussed in articles written by OBG Managing Editors. OBG provides this survey, infographics and accompanying analysis from sources believed to be reliable, for information purposes only. OBG accepts no responsibility for any loss, financial or otherwise, sustained by any person or organisation using it.

For further information on the content of the survey, please contact: Billy Fitzherbert, Middle East Regional Editor, at bfitzherbert@oxfordbusinessgroup.com . Should you wish to reproduceany element of this survey, infographics and accompanying analysis, please contact mdeblois@oxfordbusinessgroup.com . Any unauthorised reproduction will be considered an infringement of the Copyright. For further details about OBG and how to subscribe to our widely acclaimed business intelligence publication, please visit www.oxfordbusinessgroup.com 

Click here to subscribe to Oxford Business Group’s latest content: http://www.oxfordbusinessgroup.com/country-reports  

About Oxford Business Group 

Oxford Business Group (OBG) is a global research and advisory company with a presence in over 30 countries, from the Middle East, Africa and Asia to The Americas. OBG is a distinctive and respected provider of on-the-ground intelligence on the world’s fastest growing markets for sound investment opportunities and business decisions. 

Through its range of products – Economic News and Views; The OBG CEO Survey; OBG Events and Conferences; Global Platform, which hosts exclusive video interviews; The Report publications – and its Consultancy division, OBG offers comprehensive and accurate analysis of macroeconomic and sectoral developments. 

OBG provides business intelligence to its subscribers through multiple platforms, including its subscribers, CNKI, Dow Jones Factiva subscribers, the Bloomberg Professional Services’ subscribers, Refinitiv’s (previously Thomson Reuters) Eikon subscribers, and more.

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E-mail: Krishika@matrixdubai.com    

© Press Release 2020