Just 25% of leaders here feel very or extremely confident about their business growth over the next yearthe lowest in five years, but most companies have increased their market share in recent years, have expanded into new areas and are planning acquisitions, according to a PwC report released on Thursday.
The optimism of the CEOs in Romania is also at its lowest in the last five years. At the same time, Romanian companies are expanding into new areas of business, gaining market share and planning bolder acquisitions than ever, as evidenced by the local edition of the PwC CEO Survey 2026.
"The perception of company leaders in Romania is apparently paradoxical, but the two trends actually complement each other. The low optimism reflects a maturation of the Romanian business environment. The CEOs no longer look to the future with unconditional enthusiasm, but through the prism of a lucid assessment of the economic and fiscal-budgetary situation in the country, of the international geopolitical risks and of the accelerated digital transformation. It is a rational pessimism. At the same time, expansion into new sectors, gaining market share and appetite for acquisitions are exactly the right answer to uncertainty. In a volatile environment, inaction is the biggest risk. Companies take advantage of more attractive valuations, the withdrawal of less prepared competitors and diversify to become stronger," according to Country Managing Partner PwC Romania Daniel Anghel.
According to the survey, 25% of CEOs in Romania say they are confident in the company's revenue growth in the next year, the lowest level in the last five years and below the global average (30%) and that of Central and Eastern Europe (42%). Also, only 39% are confident in a three-year growth prospects, down from previous editions.
However, companies in Romania are not stagnating. The majority (57%) have managed to increase their market share in the last five years, above the global (42%) and regional (46%) averages. Also, 52% have entered new industries, and 46% plan at least one major acquisition in the next three years.
" Romania is a key market in Central and Eastern Europe. Its CEOs are more cautious than their CEE peers about the economic outlook, reflecting tighter conditions at home. Yet they show remarkable ambition and adaptability. More than half have entered new industries in recent yearshigher than regional and global averages. This blend of caution and action shows Romania's role in helping shape the CEE region overall. The message is clear: speed up digital innovation and embed AI deeply. Challenges like inflation and geopolitical risks remain, but the will to innovate and build resilience is strong ," according to PwC CEE CEO-elect Agnieszka Gajewska.
According to the survey, everybody talks about artificial intelligence (AI), but the financial results are lacking.
Only 12% of executives in Romania say that their organisations have achieved both additional revenue and cost reductions due to AI, the figure being similar to the (48%) already have a clear AI strategy, two-thirds (67%) say that their organisation has a culture open to its adoption, and Romania exceeds the regional average in using AI for product development, demand generation and business strategy.
The challenge for local companies is now to move from pilot projects to real integration, on the scale of the entire organisation.
Inflation, macroeconomic instability and geopolitical conflicts remain the main concerns for CEOs in Romania. A third of leaders say their organisations are highly exposed to economic instability and rising prices compared to last year. Almost as many (28%) see a high risk from geopolitical conflicts. The effects are being felt: 43% say geopolitical instability has reduced their appetite for major investments, and 32% anticipate declines in profit margins due to trade tariffs, both of which are higher than globally or regionally.
More worryingly, only 18% of executives in Romania perceive a high risk from cyber threats, while globally, almost a third (31%) of CEOs see cyber risks as a significant threat to their organisations. The gap does not show that Romanian companies are safer, but that they have not yet been targeted by major cyberattacks.
The PwC Global CEO Survey 2026 report is based on responses from 4,454 CEOs from 95 countries and territories, collected between September 30 and November 10, 2025. The CEO Survey report for Romania is based on the responses of 79 company leaders.
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