Survey Reveals Global Business Leaders' Top Risk Concerns

Despite improvements in global economic conditions, business leaders across most G20 countries consider the threats of recessions, labor shortages, and inflation as among the top risks facing their organizations, according to a new report.

The Executive Opinion Survey, conducted by the World Economic Forum and released by its strategic partners Marsh McLennan and Zurich Insurance Group, also includes poverty and inequality and extreme weather events among the top five risks cited by business leaders from G20 countries surveyed.

The annual World Economic Forum survey reveals the top 5 near-term risks identified by more than 11,000 business leaders from 121 countries.

This year's survey also showed business leaders growing increasingly concerned about technological risks including adverse outcomes of artificial intelligence such as misinformation and disinformation, according to a statement from Marsh. Technological risks ranged as the top risk for doing business in Indonesia, the number three risk in the United States, and the number four business risk in the United Kingdom.

"While we are witnessing some positive trends in the global economy, the findings of this year's Executive Opinion Survey highlight a significant level of anxiety among business leaders in G20 countries," Carolina Klint, chief commercial officer, Europe, at Marsh McLennan, said in the statement. "The persistent threats of recessions, labor shortages, increased protectionism, and elevated inflation are at the top of senior executives' minds as we head towards 2025.

"Additionally, the emergence of extreme weather events and technological risks, including the implications of artificial intelligence and misinformation, further complicate the landscape," Ms. Klint said. "To navigate these challenges successfully businesses need to remain vigilant and adaptable."

"As businesses navigate an increasingly complex risk landscape, it is essential to broaden the focus beyond economic risks," Peter Giger, group chief risk officer at Zurich Insurance Group, said in the statement. "2024 is on track to be the warmest year on record, and so the escalating impacts of climate change must not be ignored.

"The rapid advancement of emerging technologies will help to overcome the growing challenges, but they also pose new threats," Mr. Giger said. "By proactively identifying and mitigating these diverse risks, businesses can build resilience and thrive in the face of uncertainty. Addressing these issues head-on will not only safeguard the operations but also position companies for sustainable success in the future."