85% of managers see the Spanish economy as regular, bad or very bad, but 73% say that the situation of their companies is very good


Almost half of the businessmen, 46%, consider that political uncertainty –in a context marked by the holding of local, regional and general elections in the coming months– is one of the main threats to the economy and a 36 % places regulatory changes among the biggest risks for their business.

These are some of the conclusions of the ‘Perspectivas España 2022’ report, prepared by KPMG together with CEOE, which also shows that 57% of managers rate the situation of the Spanish economy as fair, while 28% consider that it is bad or very bad.

The energy crisis, the escalation of inflation and rising interest rates paint a complex scenario for Spanish companies, which, despite the caution shown in their economic forecasts, are optimistic about their growth in the next twelve months .


And it is that 70% of the businessmen who have participated in the survey expect their sales to increase throughout the year –seven points less than in 2022– and 50% will invest more –ten points less than last study edition–.

In addition, almost three out of four businessmen (73%) consider that the situation of their company is good or excellent, while 44% of the businessmen surveyed trust that the situation of their organization will improve throughout the year, even percentage that expects the Spanish economy to evolve for the worse in the next twelve months.

In hiring forecasts, managers are more prudent. Compared to 2022, the percentage of respondents who will expand their workforce decreases to 38% –eight points less than in 2022– and that of those who will keep it the same increases to 50% –seven points more than in the previous edition– .

Despite this, the president of CEOE, Antonio Garamendi, has insisted on the need to promote effective support measures for companies to keep the economy and employment going, as well as having a framework of political stability and regulatory quality create a favorable investment climate.

For his part, the president of KPMG in Spain, Juanjo Cano, considers that “within the prudence required by the current context, the expectations of Spanish businessmen regarding the evolution of their organizations are optimistic and show their confidence in the increase in sales, boosting investment and maintaining employment.

The report also reveals the effects of inflation on other areas of corporate governance. 69% of managers say that inflation has had a high or very high impact on their organization’s profit margins.

As a consequence, more than half of those surveyed (52%) have redefined their pricing policies to reflect the increase in costs and 31% plan to do so in the next twelve months, with which more than 80% have raised prices. or will soon. In addition, 45% have renegotiated their contracts with suppliers and 32% plan to do so throughout this year.

For their part, the majority of those surveyed (53%) place the development of measures to mitigate inflation among their strategic priorities for the next twelve months and 54% consider that rising prices are one of the main threats to the Spanish economy. short term.

Thus, three aspects closely related to inflation, such as the cost of energy, price volatility or demand risk, register a higher percentage of responses when managers are asked about the main risks for their business in this exercise (38%, 36% and 36%, respectively).

On the other hand, recent years have been marked by intense legislative activity to which is added the holding of local, regional and general elections in the coming months. In this context, 46% of those surveyed in this edition of Perspectivas España also include political uncertainty among the main threats to the Spanish economy in 2023.

For their part, 57% of the managers who have participated in the report believe that attracting and retaining talent constitutes one of the main challenges in the next three years and almost half (49%) place this area among their priorities. strategies for 2023.

The effects derived from the need for new skills and professional skills are already noticeable in companies. In fact, 59% say their organization is having difficulties recruiting the talent it needs, while 65% acknowledge that a shortage of talent puts their business objectives at risk.