The 2025 Executive Opinion Survey, conducted by the World Economic Forum and released by its strategic partners Marsh Group and Zurich Insurance Group, shows that concerns about an economic recession continue to be a major concern for G20 business leaders.
The annual survey, which gathers insights from more than 11,000 business leaders in 116 countries, showed worries about an economic recession topped the list for the third year in a row and sparked concerns in the UK and US.
Social risks arising from inadequate public services and social protection and lack of economic opportunities or unemployment ranked second and third, reflecting growing concerns about social fragmentation.
At the same time, inflation, seen as the third most pressing risk in 2024, has dropped to fourth this year, and extreme weather events, which were previously ranked fifth, have also fallen out of the top five.
At the same time, technological threats related to misinformation and disinformation entered the top five risks faced by G20 business leaders for the first time, ranking fifth.
This reportedly reflects concerns that advances in artificial intelligence are exacerbating information warfare in geopolitical tensions, affecting elections and global markets, and threatening critical infrastructure and cybersecurity.
Andrew George, president of Marsh Specialty, commented: “With the rise of artificial intelligence, the proliferation of misinformation and disinformation is allowing bad actors to operate more broadly.
“As a result, the challenges posed by the rapid adoption of artificial intelligence and associated cyber threats are now at the top of boardroom agendas.
“Furthermore, while economic and geopolitical factors have diverted some attention from short-term commitments to change, companies must continue to focus on their environmental goals to mitigate the risks associated with longer-term climate change.”
Alison Martin, CEO of EMEA and Banking Distribution at Zurich, said: “This year’s survey makes it clear that key areas such as pensions and public health are no longer just government issues but boardroom priorities.
“It is worrying that in Europe today there are fewer than three working-age adults for every pensioner and more than a third of EU citizens have not saved enough for retirement.
“These gaps threaten workforce well-being and wider social stability. Now is the time for action, and by joining forces across sectors, we can help people become more financially resilient and secure a brighter future for all.”