The reinvention imperative is accelerating, especially in the Middle East, which is undergoing massive and fast transformation as it continues to digitise, decarbonise, localise, privatise, and modernise. Our latest survey reveals that almost half of CEOs in our region don’t believe their companies will be economically viable in 10 years if they continue on their current path, up from 35% last year. Although this imperative has also increased globally (45% this year vs. 39% last year), the drive to reinvent is more pronounced in the Middle East.
In the last five years, CEOs in the Middle East have been committed to innovation and reinvention, with their organisations being more proactive in several key areas. 40% of regional leaders developed new products and services, while 53% adopted new technologies. For 61% of CEOs in the region, technological change has been the most important driver for reinvention over the last five years, compared to 46% globally. And it’s this technological change that will continue to be critical for the creation, delivery and capture of value in the next three years, with 69% considering it as a priority area.
