Argentine executives also agree that the economy is one of the main concerns, despite a better medium and long-term outlook.
Despite signs of improvement in global economic conditionsbusiness leaders in most G20 countries remain deeply concerned about the looming threats of recessions, labor shortages and rising inflation. In line with this trend, these issues are also the subject of concern among Argentine business leaders.
This follows from Marsh Mcelennan’s Executive Opinion Survey, conducted by the World Economic Forum. The annual survey reveals the top five near-term risks identified by more than 11,000 business leaders from 121 countries. Economic recession, inflation, and labor and/or talent shortages continue to dominate the list as the top three risks cited by business leaders for 2024. This was followed by poverty and inequality, which ranked fourth in this year’s top five global risks.
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Technological risks and climate events: more concerns for entrepreneurs
Extreme weather events appeared in the G20 top five risks for the first time since 2022, as fifth greatest risk for the next two years. This follows a year in which many G20 countries – including Brazil, Mexico, Germany, Indonesia and the United States – experienced extreme weather events such as severe flooding, above-average rainfall, wildfires, high temperatures or elevated hurricane activity.
This year’s survey findings also indicate growing concern about technological risks, including the adverse outcomes of artificial intelligence and misinformation. These risks appear six times in the country-specific rankings this year, compared to just three mentions in 2023. It was ranked the number one risk for doing business in Indonesia, the number three risk for the US. and the number four risk to doing business in the UK.
Carolina Klint, Chief Commercial Officer for Europe at Marsh McLennan, said: “While we are seeing some positive trends in the global economy, the findings from this year’s Executive Opinion Survey highlight a significant level of anxiety among business leaders in G20 countries. Persistent threats of recessions, labor shortages, rising protectionism and high inflation are on the minds of senior executives as we head toward 2025. Additionally, the emergence of extreme weather events and technological risks, including the implications of Artificial intelligence and misinformation further complicate the picture.. To successfully navigate these challenges, companies must remain vigilant and adaptable.”
Source: Ambito
