A new survey from global collective Outleap reveals that despite macroeconomic challenges, high-growth tech companies are gearing up for international expansion in 2024.

The survey, which included over 200 global CMOs, CEOs, and marketing and communications leaders, offers a glimpse into the strategic planning, performance versus brand considerations, and targeted growth ambitions of these companies.

According to the survey, 44% of companies have plans to expand globally, undeterred by economic uncertainties. This is in line with the finding 60% of respondents reported higher budgets now than a year ago. Interestingly, the balance of brand and performance marketing spend is shifting back, with an average of 41 to 59% brand to performance expected for the next year.

The survey also revealed 79% of companies that have raised more than USD$100m in funding view macroeconomic factors as a significant challenge inhibiting growth.

Half of the communications and marketing leaders surveyed said their business is emphasizing profitability more this year compared to last year. Meanwhile, 44% of company respondents are still looking to expand globally in the next 12 months, and the same percentage of communications leaders are increasingly involved in business strategy.

The survey also revealed a shift towards a 41/59% split between brand and communications and performance marketing. An impressive 90% of CEOs expressed confidence in their ability to accurately measure the impact of PR and marketing on profitability, sales, and brand recognition, compared to 69% of CCO/CMOs and 72% of other communications and marketing leaders.

"It’s clear that brands and marketers can’t wait for macroeconomic factors to stabilize before they act on their global ambitions," David Parkinson, Chairman of Outleap, said. "The one-size-fits-all approach to international expansion is no longer going to work — ambitious companies need to think carefully and strategically about where, how and when they expand."