Business leaders in the G20 countries believe that global economic risks continue to outweigh climate and cyber risks, according to a study released today by Marsh McLennan and Zurich.
In a statement, which reports on the findings of the Executive Opinion Survey, it says that ‘although global economic conditions show some signs of improvement, business leaders in most G20 countries remain concerned about the looming threats of recession, labour shortages and rising inflation’.
The annual survey ‘reveals the top five short-term risks identified by more than 11,000 business leaders from 121 countries’, with ‘economic recession, labour and/or talent shortages and inflation continuing to dominate the list as the top three risks identified by G20 business leaders for the next two years’, followed by poverty and inequality in fourth place.
In turn, extreme weather events continue to rank among the G20’s top five risks, “taking fifth place this year”, which “comes a year after many G20 countries, including Brazil, Germany, Indonesia and the United States, faced severe flooding, above-average rainfall, forest fires, extreme heat or the high frequency of hurricanes”.
According to the statement, ‘this year’s results also indicate a growing concern about technological risks, including the adverse impacts of artificial intelligence, such as disinformation and the spread of false information’, with ‘these risks appearing six times among the top five in the country-specific rankings, in contrast to just three mentions in 2023’.
Technological risks were, moreover, ‘categorised as the main risk for business in Indonesia, the third biggest risk in the United States and the fourth risk for the United Kingdom’.
‘Although we see some positive trends in the global economy, the results of this year’s Executive Opinion Survey highlight a significant level of anxiety among business leaders in the G20 countries,’ said Carolina Klint, chief commercial officer at Marsh McLennan Europe, quoted in the same note.
‘The rapid advance of emerging technologies will help overcome growing challenges, but it also presents new threats. By proactively identifying and mitigating these various risks, companies can build resilience and thrive in the face of uncertainty,’ said Peter Giger, group chief risk officer at Zurich Insurance Group.
The Executive Opinion Survey is conducted by the World Economic Forum’s Centre for the New Economy and Society, with Marsh McLennan and Zurich Insurance Group as strategic partners.
Business leaders in the G20 countries believe that global economic risks continue to outweigh climate and cyber risks, according to a study released today by Marsh McLennan and Zurich.
In a statement, which reports on the findings of the Executive Opinion Survey, it says that ‘although global economic conditions show some signs of improvement, business leaders in most G20 countries remain concerned about the looming threats of recession, labour shortages and rising inflation’.
The annual survey ‘reveals the top five short-term risks identified by more than 11,000 business leaders from 121 countries’, with ‘economic recession, labour and/or talent shortages and inflation continuing to dominate the list as the top three risks identified by G20 business leaders for the next two years’, followed by poverty and inequality in fourth place.
In turn, extreme weather events continue to rank among the G20’s top five risks, “taking fifth place this year”, which “comes a year after many G20 countries, including Brazil, Germany, Indonesia and the United States, faced severe flooding, above-average rainfall, forest fires, extreme heat or the high frequency of hurricanes”.
According to the statement, ‘this year’s results also indicate a growing concern about technological risks, including the adverse impacts of artificial intelligence, such as disinformation and the spread of false information’, with ‘these risks appearing six times among the top five in the country-specific rankings, in contrast to just three mentions in 2023’.
Technological risks were, moreover, ‘categorised as the main risk for business in Indonesia, the third biggest risk in the United States and the fourth risk for the United Kingdom’.
‘Although we see some positive trends in the global economy, the results of this year’s Executive Opinion Survey highlight a significant level of anxiety among business leaders in the G20 countries,’ said Carolina Klint, chief commercial officer at Marsh McLennan Europe, quoted in the same note.
‘The rapid advance of emerging technologies will help overcome growing challenges, but it also presents new threats. By proactively identifying and mitigating these various risks, companies can build resilience and thrive in the face of uncertainty,’ said Peter Giger, group chief risk officer at Zurich Insurance Group.
The Executive Opinion Survey is conducted by the World Economic Forum’s Centre for the New Economy and Society, with Marsh McLennan and Zurich Insurance Group as strategic partners.
Lusa
