Recession, inflation top business risks for G20 leaders in next 2 years: survey

Other concerns include poverty and inequality and extreme weather events.

Business leaders across most G20 countries remain concerned about economic threats, such as recession, labour shortages, and rising inflation even as some global economic conditions show improvement, according to a survey by the World Economic Forum and Zurich Insurance Group.

The survey, which polled 11,000 business leaders across 121 countries, identified economic downturn, labour and talent shortages, and inflation as the top three risks in the next two years, followed by poverty and inequality, and extreme weather events. 

Many G20 nations, including Indonesia, have recently experienced severe flooding, abnormal rainfall, wildfires, extreme heat, or heightened hurricane activity.

The survey also highlighted growing unease about technological risks, particularly the misuse of artificial intelligence (AI). 

In Indonesia, AI-related misinformation and disinformation are ranked as the top business risks.

Other notable risks varied regionally, the survey showed with business leaders in Australia expressing concerns over energy and food supply shortages, whilst those in South Korea named societal polarisation.

“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,” said Peter Giger, group chief risk officer at Zurich Insurance Group.