Tech Index 2022: Pathways to growth in a troubled world
At a time of deepening political and economic uncertainty across the world, European technology companies remain surprisingly optimistic about the prospects for growth in their sector.
That is the clear conclusion of our sixth Tech Index, based on interviews with senior executives from 350 companies across the tech sector with revenues ranging from EUR10 million to more than EUR10 billion.
The continuing sense of confidence in the tech sector is at odds with the mood of many businesses. For many it’s not a case of watching economic and political storm clouds gathering on the distant horizon. Instead, they see the storm approaching fast and are already battling significant headwinds.
Yet, despite inflation climbing to its highest level for 40 years, interest rates rising rapidly after a prolonged period of historic lows, and the increasing threat of recession across major economies, this has not shaken the nerves of tech companies in our survey.
They continue to believe the economic environment remains conducive to growth and, in fact, are more confident about current conditions than at any time since we began running our biennial Tech Index in 2013.