Business confidence among Hong Kong CEOs outpaces global average–PwC survey
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- 98% of HK CEOs optimistic about revenue growth over next three years–versus 87% globally. But there is caution over the short term, with limited appetite for strategic acquisitions
- 58% report revenue increases from AI (29% globally)
Hong Kong, 6 February 2026–Confidence in global and territorial economic growth among Hong Kong CEOs has leapt from 62% last year to 70% today; and from 40% last year to 61% today respectively. Almost all (98% versus 87% globally) are upbeat about revenue growth over the next three years, though there is more caution in the short term. These are among the findings of PwC’s Global CEO Survey. Now in its 29th year, the survey takes the pulse of 4,454 CEOs in 95 countries and territories.
Outlook – Constant rebound meets near‑term caution
The Hong Kong CEO Survey highlights, which are released today, show that Hong Kong business leaders are experiencing a notable rebound in sentiment, while facing intensified risks. In an open, digitally advanced economy, they balance optimism about global growth with heightened sensitivity to near‑term pressures such as cyber threats, stakeholder trust demands, and geopolitical volatility.
“Our survey shows that Hong Kong’s business community has exceptional long‑term confidence,” says Charles Lee, PwC China Vice Chair and Managing Partner. “As to the adoption of AI, there is a higher risk appetite than global peers in terms of innovation. However, one consequence of this is that cyber security and data governance are much greater concerns for Hong Kong CEOs than they are globally. We believe this may slow down their broader strategy implementation.”
This may be evidenced in M&A planned activity, where Chinese Mainland and Hong Kong CEOs are seen as more conservative than their global peers. “Among other findings in our survey, 81% of Hong Kong CEOs have no plans for major acquisitions,” adds Mr Lee. “This focus on core execution delivers results today but risks leaving long‑term capability gaps unaddressed.
AI delivers breakthroughs
AI adoption is driving revenue growth and cost optimisation in Hong Kong: 58% of Hong Kong CEOs report revenue increases as a result of AI (vs 29% globally). Hong Kong (17%) also boasts a higher figure than global peers for businesses that have achieved both revenue growth and cost reductions (vs a 12% global average). But greater AI deployment inevitably means a larger ‘attack surface’, and thus a more pressing need for cyber security.
“Hong Kong’s strengths in innovation–particularly in AI–are built on solid foundations,” says Loretta Fong, PwC Hong Kong Sustainability Assurance Leader . “Our survey results show that Hong Kong’s CEOs cite some key enablers well above their global peers. These include an enabling culture (76% vs 69%), ease of technical integration (87% vs 67%) and the ability to attract the right talent (74% vs 42%).”
Cyber resilience is now the license to operate
PwC’s research shows that cyber resilience is now a critical ‘license to operate’: Hong Kong CEOs identify cyber risks as an even greater threat than geopolitical volatility. 56% cite it as the top threat — nearly double the global average of 31%. This is accompanied by the need for strong data governance: 68% of Hong Kong companies face stakeholder scrutiny on data use, privacy and transparency — far above the global average (39%).
Hong Kong firms show a higher risk tolerance when it comes to innovation than their global peers (56% vs 26%). They also benefit from stronger infrastructure and access to innovation centres and incubators (33% vs 23%). Facilities such as the Hong Kong Science and Technology Parks, as well as the ability to collaborate with partners across the Greater Bay Area, mean that Hong Kong firms are well positioned to experiment.
Inbound and outbound M&A: opportunities for Hong Kong as a unique gateway
As discussed above, 81% of Hong Kong firms have no plans for major acquisitions — sharply up from 31% in 2025 and well above the global average of 46%. This strategic position on the part of Hong Kong CEOs is in stark contrast to that of their overseas counterparts, who have a bigger investment appetite. 11% of global CEOs cite the Chinese Mainland as one of their top three overseas investment destinations – up from 9% last year. China’s greater prominence as an M&A destination stands to benefit Hong Kong in its unique gateway role.
For Chinese Mainland CEOs, while the US remains the top investment destination, our latest survey shows that their choices have become more diversified, with more interest being shown in markets such as Malaysia, Vietnam and the UAE.
“M&A can be a powerful accelerator for businesses,” adds Ms Fong. “It enables firms to reshape their organisational capabilities rapidly — acquiring technologies, talent, and platforms that complement their internal strengths. Targeted M&A could help Hong Kong firms defend against disruption and capture adjacent high‑growth areas more quickly.”
“Hong Kong businesses are well placed to accelerate capability building through M&A and partnerships,” says Mr Lee. “After all, Hong Kong is a critical gateway between China and the global economy by assisting Chinese Mainland companies to go global and to bring in foreign investors into China, while M&A is one of the options amongst others. Hong Kong business should seek out opportunities to leverage collaboration across the Greater Bay Area. At the same time, the growing appetite for inbound investment into the Chinese Mainland should play to Hong Kong’s strengths as the critical gateway between China and the global economy.”
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