Global confidence among business leaders appears to be high given positive global growth prospects, but a number of chief executives of some of the world's largest companies told CNBC that there was no room for complacency.
PwC released a global CEO survey for 2018 this week that revealed record optimism among chief executives in terms of their view on the global economic outlook. Speaking to CNBC on the sidelines of the World Economic Forum (WEF) in Davos, Switzerland, Global Chairman of PwC, Bob Moritz, explained the rationale behind the uptick in confidence.
"Two things are happening, you've got the market trends that are still very positive then you've got the rise of the consumer, the rise of the middle class on a worldwide basis and in particular in Asia, APAC (Asia Pacific), and the second thing is that it's the first time when you've had all regions around the world equally as positive," he said.
Moritz said that while traditional risks to businesses — such as foreign exchange fluctuations and access to capital — had decreased, other risks had risen such as the threat of terrorism, climate change and geopolitics.