Nearly all CEOs forecast revenue growth as HK outpaces global peers in AI

More than half of Hong Kong firms use AI for revenue, whilst 56% cite cyber risks.

Nearly all Hong Kong CEOs expect revenue growth over the next three years, reaching 98% compared with 87% globally, according to PwC’s 29th Global CEO Survey. The survey included 4,454 CEOs across 95 countries and territories.

Revenue increases from AI were reported by more than half of Hong Kong CEOs, at 58%, while 17% of local firms achieved both revenue growth and cost reductions, higher than the 12% global average.

Charles Lee, PwC China Vice Chair and Managing Partner, said that Hong Kong CEOs have a higher risk appetite for AI adoption than global peers, but that this increases concerns over cybersecurity and data governance.

Cyber risks were identified as a top concern by 56% of Hong Kong CEOs, compared with 31% globally.

Scrutiny from stakeholders on data use, privacy, and transparency affected 68% of local companies, compared with 39% globally.

Major acquisitions are not planned by 81% of Hong Kong firms, compared with 46% globally.

Loretta Fong, PwC Hong Kong Sustainability Assurance Leader, noted that Hong Kong CEOs cite strong enablers for innovation, including an enabling culture, ease of technical integration, and the ability to attract talent.