Northern Ireland's Business Leaders: Cautious Optimism Prevails
Despite a challenging global economic climate, business leaders in Northern Ireland remain focused on growth and innovation. A new report, the 11th edition of the KPMG CEOs Outlook, reveals a nuanced perspective compared to their counterparts in the Republic of Ireland (RoI) and globally.
The report, based on interviews with 1350 chief executives, indicates that a significant 80% of Northern Irish CEOs anticipate earnings growth over the next three years. This figure represents an increase from 70% in 2024 and surpasses the RoI's 57%, aligning more closely with global optimism. Johnny Hanna, partner-in-charge of KPMG in Northern Ireland, highlighted this positive outlook.
AI: The Key to Future Success?
A key takeaway from the report is the prioritisation of Artificial Intelligence (AI) by Northern Irish CEOs. They view AI as 'essential' for driving business success in the coming years. This focus on technology reflects a commitment to innovation and a recognition of the transformative potential of AI across various industries.
Economic Confidence: A More Measured Approach
While optimistic about their own companies' prospects, Northern Irish business leaders express a more cautious view of the broader economy. Anticipated headcount growth is expected to be lower than in the RoI and globally, suggesting a more measured approach to expansion amidst economic uncertainty.
Football Update: NI Ends Group A with a Win
In other news, Northern Ireland's football team concluded their Group A campaign with a narrow victory over Luxembourg. While they missed out on second place, they secured a play-off spot. All eyes are now on the draw, scheduled for Thursday, and the upcoming matches in March.
Victoria Square Welcomes New Retailers
Belfast's Victoria Square shopping complex continues to thrive, with three new retailers recently opening their doors, further enhancing the city's retail landscape.