PwC survey highlights labor skills gap as top concern for Cypriot CEOs

The 15th annual PwC survey of CEOs, involving 77 participants from Cyprus, indicates that 43% of local business leaders view the shortage of skilled labor as their primary threat for the coming year. This concern ranks higher than geopolitical conflicts at 30%, technological advancements at 22%, and cyberattacks at 21%. Notably, the survey was conducted prior to the recent escalation of conflict in the Middle East, which may have since shifted risk perceptions. Regarding talent acquisition, 45% of Cypriot CEOs believe their companies are unable to attract specialists in artificial intelligence, contrasting with a global figure where 42% of CEOs feel capable of hiring such talent. Additionally, firms reported challenges regarding internal trust, with 13% of leaders facing increased criticism of their decision-making. In comparison, CEOs across the Eurozone prioritize cybersecurity and macroeconomic instability as their main concerns. The findings underscore a distinct gap in the local labor market compared to broader international trends.