KPMG CEO Outlook 2026: Confidence is returning

German CEOs are once again more optimistic about the future of their companies. This is one of the key findings from the KPMG CEO Outlook 2026 survey. 86 percent of German executives expect growth over the next three years—a 14-percentage-point increase compared to the previous year. Sixty-eight percent anticipate at least 2.5 percent growth for their companies.

This confidence relates primarily to the immediate business environment: 78 per cent expect growth both for their own sector and for Germany as a business location. By contrast, only 62 per cent are optimistic about the global economy. Despite this burgeoning optimism, various risks remain, including regulatory uncertainty, geopolitical instability, supply chain disruptions and cybercrime.

Artificial Intelligence Remains a Top Investment Priority

77 percent of German CEOs rank artificial intelligence (AI) as a top investment priority; last year, that figure was 68 percent. 94 percent expect to see a return on their AI investments within the next three years at the latest, or have already achieved one. 82 percent plan to hire new employees with AI and technology skills.

Additional findings on AI-related topics:

95 per cent believe their company is capable of keeping pace with the rapid development of AI.

79 per cent already have a clear idea of how AI could transform business models and strategies.

76 per cent are redesigning role profiles and career paths.

74 per cent are expanding their further training and reskilling programmes.

Confidence among German CEOs has returned. It is not fuelled by hopes of better economic conditions or a tailwind from global trade. What is crucial is confidence in their own ability to shape the future.

Mattias Schmelzer

CEO, Spokesperson for the Executive Board

KPMG AG Wirtschaftsprüfungsgesellschaft

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KPMG CEO Outlook 2026:
Confidence is returning

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Acquisitions remain a key driver of growth

90 per cent of German CEOs are considering acquisitions over the next three years. 60 per cent expect these transactions to have a moderate impact on their own companies. By contrast, only 30 per cent anticipate strategically significant acquisitions (58 per cent in the previous year).

Risks remain high despite growth

According to the respondents, the business environment remains challenging: 81 per cent expect regulatory requirements to have an impact on their business, 80 per cent expect the costs of technological infrastructure to have an impact, 79 per cent expect cybercrime to have an impact, and 78 per cent expect rising costs and inflation to have an impact.

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About the KPMG CEO Outlook 2026

For the KPMG CEO Outlook 2026, 1,400 CEOs worldwide were surveyed between 11 August and 21 September 2026, including 125 CEOs from Germany. The study examines senior management’s views on growth, investment, artificial intelligence, workforce planning, acquisitions and key economic and geopolitical challenges. The survey included CEOs of companies with an annual turnover of more than US$500 million, of which around a third generate an annual turnover of more than US$10 billion. The study covers executives from 12 key markets and 12 key industries. The KPMG CEO Outlook 2026 is the twelfth edition of the global study series.