Despite DeSantis' Skepticism, Leaders At Davos Remain Confident

Close your eyes and imagine yourself in the Landwasser Valley in the Swiss Alps, climbing 5,120 feet to the ski resort of Davos, where next week 2,500 influential people will assemble to discuss the state of the world while wearing boots made without animal testing. They are particularly interested in the "polycrisis" described in the WEF's Global Risks Report. That is the intricate web of problems where, for instance, drought makes food shortages worse and conflict causes an energy crisis that makes it difficult to address climate change or other problems like energy pricing.

Additionally, resolving a crisis calls for a polyglot coalition of politicians, polymaths, and a diverse range of other stakeholders. Davos has historically infuriated politicians like Florida Governor Ron DeSantis, who this week again attacked it as a gathering of "jetsetters" and "elites" offering "woke" solutions that would "weaken Western society"—even if the idea is not revolutionary for systems thinkers like CIOs. See more below about it.

Nearly 600 CEOs are anticipated to attend Davos, joining 52 heads of state and government and their teams from the C-suite, which will bring the total number of "attendees" to around 10,000. C-suite people are essential to getting things done in a society that preaches public-private partnerships as we fight a recession.

It makes sense why we are bombarded with information on how company executives truly feel and what they want to spend. (If your employer also asks how you are feeling, don't be scared). C-Suite executives are worried about finding the appropriate personnel, technology, and sustainable development, according to our own research and events. According to a report by EY, 98% of CEOs are preparing for a slump, and about a third of them are delaying planned investments because of geopolitics. 93% of the 2,600 CEOs surveyed in the most recent Accenture/UN Global Compact poll reported ten or more simultaneous issues, which casts doubt on achieving sustainability targets.

Signs of Optimism

However, there are encouraging indicators in the higher positions. In a study conducted by World 50/G 100 of 219 senior-level executives, 72% of them stated their one- to three-year growth forecast was strong or exceptional, and 91% said the same for the three to five years after that.

Executives in the technology and telecommunications industries were the least optimistic about growth prospects over the next one to three years, possibly because their industries were most directly affected by the immediate effects of inflation on prices and demand. Leaders in consumer goods expressed the most pessimism over the long term. The CEOs of businesses providing business services were the most upbeat participants overall, with 21% rating their short-term outlook as outstanding compared to only 4% of executives from businesses outside the United States.

The most significant growth accelerators are improvements in technology and a reduction in the skills shortage. Lack of skill and labor are the main obstacles to this expansion, followed by the recession and inflation. What do you think isn't truly stopping them? Budget restrictions and a lack of raw materials.

CIOs In Davos

CIOs may be thinking, "Hey, I should be in Davos," with all this talk about innovation and connectivity. Sure, but there's a good chance you recently returned from CES. Budgetary restrictions are discussed in paragraph 7. If your firm is one of the WEF's 100 strategic partners or one of the other 900 member companies—or if a "new champion," NGO, significant organization, or founder Klaus Schwab finds you interesting—you may be leaving right now. Then there are the costs of booking a hotel and a flight. Only 19 people are being sent by the American delegation.

You're not alone, though, if you're a little sad that you won't be attending Davos next week. I have pleasant memories of colliding with Best Buy's Brad Anderson as I attempted to cross a snowbank, witnessing Coca-Cola's Kent take out a stack of bills to demonstrate that he always carries cash, and having another CEO pause mid-sentence to ask, "Is that Maria Bartiromo?" before scurrying away. I'm not a member of Schwab's inner circle either.