2020 Revenue to be Cut in Half: PH CEOs

Due to the continuous threat that the coronavirus disease 2019 (COVID-19) pandemic is presenting, Chief Executive Officers (CEOs) in the Philippines admitted that their revenue may be cut in half during the remaining months of 2020.

According to a survey conducted by The Management Association of the Philippines (MAP) and PwC Philippines, 78% of the 161 total respondents said that they are expecting a 50% of revenue loss this year.

However, respondents who are still optimistic and still believes that their revenue will eventually grow is at 59%. The survey shows a great decrease in growth expectancy as the 2019 survey of the same category was at 95%.

PwC Philippines revealed that the recent survey was the lowest figure since the survey started in 2014.

Meanwhile, despite the challenges that the economy is currently facing, CEOs are positive for the next 3 years that they are expecting a 90% growth in their respective companies. (MLC)