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Business

Business leaders fear recession, labour shortages, World Economic Forum says
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Published : 4 days ago, on

LONDON (Reuters) – Business leaders globally are worried about the risk of recession, labour shortages and rising inflation, despite some signs of improvement in economic conditions, a World Economic Forum survey said on Thursday.

Extreme weather events are an increasing concern, following a year of record temperatures, severe flooding and wildfires, including in major economies such as Brazil, Germany, Indonesia and the United States, according to the survey of more than 11,000 business leaders from G20 countries.

The WEF Executive Opinion Survey shows “a significant level of anxiety among business leaders in G20 countries”, said Carolina Klint, chief commercial officer, Europe at Marsh McLennan, a WEF partner, along with Zurich Insurance.

Economic downturn is seen as the top risk for business leaders over the next two years, followed by labour and/or talent shortages and then inflation. Poverty and inequality ranked fourth, and extreme weather events came in fifth, the survey showed.

In individual country surveys, concerns about adverse risks from technology, including artificial intelligence, featured highly, coming in as the top risk for doing business in Indonesia, number three in the United States and number four in Britain, the survey showed.

 

(Reporting by Carolyn Cohn)

 

Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.

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