"In the survey, CEOs express a record level of pessimism regarding the global economic outlook in 2020, with 53% projecting a decline in the rate of global economic growth, up sharply from 29% last year", PwC said.
The business executives have cited over-regulation, trade conflicts, and uncertain economic growth as main threats to their organizations' prospects.
"The share of CEOs very confident in their 12-month growth prospects fell to 27%, the lowest level since 2009", the PwC mentions on its website.
The 50th World Economic Forum in Davos will be held from 21-24 January. More than 50 world leaders, including US President Donald Trump, German Chancellor Angela Merkel, Austrian Chancellor Sebastian Kurz, and Ukrainian President Volodymyr Zelenskyy, plan to attend.