69% OF EXECUTIVES EXPECT BUSINESS PERFORMANCE TO IMPROVE, AS RELATIONSHIP CAPITAL EMERGES AS A KEY DIFFERENTIATOR FOR GROWTH

ICCO GLOBAL SUMMIT 2026

International survey of 500 senior executives reveals that while AI and technological innovation (48.6%) rank as the single most important driver of value creation, relationship-related factors collectively outweigh any other source of long-term business value.

Milan, 12 November 2026 – Despite continued economic uncertainty, geopolitical tensions and rapid technological disruption, business leaders remain confident about the future. Nearly seven in ten executives (69.4%) expect their organizations' performance to improve over the next 12 months, according to a new international study conducted by AstraRicerche at the beginning of November and unveiled at the ICCO Global Summit 2026 in Milan. The survey gathered insights from 500 C-suite and senior executives across the United States, Italy, Germany, Saudi Arabia and China.

The research reveals that executives see long-term value creation as increasingly dependent on a combination of technological innovation and strong stakeholder relationships. Artificial intelligence and technological innovation rank first among expected drivers of future value creation (48.6%), followed by increased demand for products and services (44.8%), economic stability (44.6%) and customer trust (43.0%).

Beyond individual factors, relationship capital emerges as the most significant value category overall. More than eight in ten executives (82.4%) identify at least one relationship-related element, such as customer trust, employee engagement, reputation, talent attraction or stakeholder relationships, as critical to future value creation.

Customers, Employees and Partners Are Critical, but Difficult

Customers (58.2%), employees (56.4%) and business partners and suppliers (55.0%) are considered the most important stakeholders for organizational success. However, these same groups are often among the most challenging relationships to manage.

Partners and suppliers (32.8%) and customers (30.6%) rank as the most difficult stakeholder groups to maintain effective relationships with, followed by governments and regulators (27.4%) and investors (27.2%). More than one-third of executives (37.8%) report managing at least two stakeholder relationships that are both strategically important and difficult to maintain.

External Pressures Drive Stakeholder Complexity

Executives attribute most stakeholder-management challenges to factors beyond their direct control. Political and regulatory uncertainty, tariffs and inflation, economic pressures and geopolitical tensions are among the most frequently cited barriers to maintaining productive stakeholder relationships. Overall, 82.8% of respondents point to external factors as a primary source of relationship complexity.

Investment in Communication and Stakeholder Engagement Expected to Grow, with Digital, GEO and Crisis preparedness Leading the Way

Over the next 12 months, executives anticipate increased investment across all twelve communication and stakeholder engagement areas evaluated in the study. The most frequently cited areas are digital and social media communications (73.6%) and Generative Engine Optimization (GEO) (72.6%). These are followed by crisis preparedness and issues management (66.6%), internal communications and employee engagement (66.4%), programs dedicated to partners and suppliers (65.2%), and corporate communications and reputation management (64.0%).

Relationship Measurement: A Significant Implementation Gap Remains

The study finds increasing recognition that stakeholder relationships should be measured and managed with the same discipline traditionally applied to financial performance.

While 55.2% of organizations report systematically measuring relationship quality and a further 32.6% conduct occasional measurement, a substantial implementation gap remains. More than four in five executives (81.6%) believe stakeholder relationships should be measured with the same rigor as financial performance, yet only 49.6% report full alignment between that belief and current organizational practice.

“One of the most important findings is that executives have learned to operate confidently in an uncertain environment. After years of disruption, resilience has become a competitive advantage. The research also suggests a significant shift in how organizations create value. While technology and AI remain essential growth drivers, long-term success increasingly depends on trust, reputation and strong stakeholder relationships. Organizations that can measure, manage and strengthen relationship capital will be better positioned to drive sustainable growth, adapt to change and create lasting value.” Massimo Moriconi, ICCO President.

About ICCO

The International Communications Consultancy Organisation (ICCO) is the global voice of public relations and communications consultancies. Representing national trade associations, agencies and professionals across the world, ICCO promotes ethical standards, professional development and collaboration across the communications industry. Through advocacy, research, education and global initiatives, ICCO supports the advancement of public relations as a trusted and responsible profession.