Fears relating to an economic downturn continue to dominate concerns cited by G20 business leaders, according to the Executive Opinion Survey 2025, conducted by the World Economic Forum and released by its strategic partners Marsh McLennan and Zurich Insurance Group.
The annual survey, which gathered insights from more than 11,000 business leaders across 116 countries, revealed that fears of an economic downturn topped the list for the third consecutive year and led concerns in both the UK and the US.
Social risks, stemming from insufficient public services and social protections, as well as a lack of economic opportunity or unemployment, were ranked second and third, reflecting growing concerns about social fragmentation.
At the same time, inflation, cited as the third-most pressing risk in 2024, fell to fourth this year, and extreme weather events, previously ranked fifth, dropped out of the top five.
Meanwhile, technological threats linked to misinformation and disinformation entered the top five risks for G20 business leaders for the first time, ranking fifth.
This reportedly reflects fears that advances in AI are fuelling information warfare amid rising geopolitical tensions, influencing elections and global markets, and threatening critical infrastructure and cybersecurity.
Andrew George, President, Marsh Specialty, commented, “With the rise of AI, the proliferation of misinformation and disinformation is enabling bad actors to operate more broadly.
“As such, the challenges posed by the rapid adoption of AI and associated cyber threats now top boardroom agendas.
“Also, while economic and geopolitical factors have deflected some of the focus on change commitments in the short-term, businesses must remain focused on their environmental objectives to mitigate the risks associated with the changing climate in the longer-term.”
Alison Martin, CEO, EMEA & Bank Distribution, Zurich, said, “This year’s survey makes it clear: critical areas like pensions and public health are no longer just government issues – they’re boardroom priorities.
“It is concerning to see that in Europe today, there are fewer than three working-age adults for every pensioner, and over a third of EU citizens aren’t saving enough for retirement.
“These gaps threaten both workforce wellbeing and broader social stability. The time to act is now, by joining forces across sectors, we can help empower people to build financial resilience and secure a brighter future for all.”
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