Forvis Mazars C-suite barometer 2025: Cutting through competition

Businesses are building for what's next to cut through the competition. ​Our latest study of 1,700+ executives in over 35 countries reveals a positive, but challenging, outlook for growth in 2025: a year driven by opportunities for businesses to scale up their priorities and transformation strategies, in response to heightened competition and increasing geopolitical factors.

Our annual C-suite barometer gathers the views of leading executives from all over the world. Each year we uncover the strategic priorities on the C-suite’s agenda and the market trends expected to impact businesses in the years ahead. ​This latest study reveals a business world focused on opportunities for growth and expansion in a more competitive environment. 2025 is the year for C-suite executives to scale up and get ahead.

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Featuring insights from Forvis Mazars and external industry experts, this year’s study presents a positive yet challenging outlook. C-suite leaders remain determined to grow despite mounting pressures from heightened competition and geopolitical instability.

Key findings

  • 93% of C-suite leaders worldwide have a positive growth outlook – consistent with 2024 (94%) and up from 86% in 2023. 
  • Increased competition (35%) and geopolitical instability (30%) are the two fastest-rising trends holding back growth – up 13 and 8 points respectively from 2024.
  • Pharmaceutical & Life Sciences and Energy & Infrastructure sectors cite competition as the top growth barrier.
  • Economic uncertainty (39%) is expected to have the biggest impact, followed by competition (33%).
  • In the TMT sector, competition jumped from ninth place in 2024 (20%) to second in 2025 (38%).
  • 83% of businesses plan to expand into at least one new country within five years; over 40% target three or more.
  • 43% of organisations continue to struggle with recruiting talented people.

A resilient outlook amid rising challenges

The 2025 study confirms that 93% of C-suite executives maintain a positive growth outlook. However, this optimism is tempered by growing concerns. Competition and geopolitical instability have surged as the most significant rising threats to growth.

The report reflects the perspectives of over 1,700 C-suite executives across more than 35 countries and territories. While leaders remain focused on navigating economic trends (39%), competition (33%), and emerging technologies (31%), 43% still view IT and technology as the key to transformation and growth. Strategic priorities also include international expansion and talent strategies, both seen as critical to unlocking growth and gaining market share.

Digital agility and data-powered transformation

Technology transformation remains the top strategic priority, with 43% of leaders placing it at the top of their agenda—an 11-point increase in just one year. Confidence in the return on this investment is high, with 85% expecting strong outcomes.

The rush to adopt the latest tech trends has evolved. While 87% of executives believe Gen AI will impact their business, 91% already have a strategy in place. Notably, more organisations are now using AI to optimise internal processes rather than focusing solely on external products or services.

Investment in international expansion

C-suite executives continue to pursue international growth. For a quarter of leaders, it’s a top strategic priority, and 83% already have plans to enter one or more new countries within five years.

The US, Germany, UK, China, and Canada are the most targeted destinations. Leaders in the Middle East and Latin America are especially active in pursuing expansion.

Top challenges cited include:

  • Understanding local regulations
  • Securing a local workforce
  • Adapting products/services to new markets

Upskilling and upscaling talent to tackle scarcity

People remain central to business success. Talent attraction and retention strategies are a top-three priority for a quarter of leaders, yet 43% of organisations still struggle to recruit skilled professionals.

The talent gap has shifted: while senior-level hiring was the main concern in 2024, the current challenge lies in recruiting entry and mid-level talent.

Expert perspective

“It’s encouraging to see the positive growth outlook C-suite executives still have. This is built on the successes achieved in quite a volatile environment over the past two years and shows the resilience that many leaders and their businesses have established over time—a key strength as they build for what’s next amid increasing competition and geopolitical instability.
The overarching challenge of 2025 will be maintaining strategic priorities and a clear vision amid new market entrants, continuing technological disruption, and potential market turbulence.”
— Mark Kennedy, Partner and Chief Clients & Markets Officer

Conclusion

While the outlook remains positive, achieving growth in 2025 will require navigating a complex landscape. The ability to stay focused on strategic priorities, embrace technological transformation, and attract the right talent will be essential for C-suite leaders aiming to lead their organisations through rising competition and uncertainty.

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About the study

The C-suite barometer: outlook 2025 examines the views, challenges, and strategic priorities of today’s C-suite leaders around the world. This independent research was conducted between 28 September and 23 October 2024 and captures the views of 1,706 C-suite leaders at for-profit organisations with annual revenues of over $1million across more than 35 countries.

About Forvis Mazars

Forvis Mazars is a leading global professional services network. The network operates under a single brand worldwide, with just two members: Forvis Mazars LLP in the United States and Forvis Mazars Group SC, an internationally integrated partnership operating in over 100 countries and territories. Both member firms share a commitment to providing an unmatched client experience, delivering audit & assurance, tax and advisory services around the world. Together, our strategic vision strives to move our clients, people, industry and communities forward.  

Forvis Mazars is the brand name for the Forvis Mazars Global network (Forvis Mazars Global Limited) and its two independent members: Forvis Mazars LLP in the United States and Forvis Mazars Group SC. Forvis Mazars Global Limited is a UK private company limited by guarantee and does not provide any services to clients.

About Forvis Mazars in Slovakia

In Slovakia, Forvis Mazars has 25 years of experience in professional services. We aim to provide excellence in audit, tax, financial advisory, accounting & payroll outsourcing, resilience consulting, and sustainability. We empower 130 people to deliver our promise to clients with confidence.

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C-suite barometer 2025