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Home / Insurance / Inflation, debt, affordability crises pose the most severe tests for global businesses

Inflation, debt, affordability crises pose the most severe tests for global businesses



Rapid and/or persistent inflation is the biggest risk to doing business globally over the next two years, followed by debt crises and the cost of living crisis, according to a World Economic Forum survey released Monday.

In the US, debt crisis, rapid and/or sustained inflation and geo-economic confrontation were the top risks cited by business leaders, the survey found.

Conflict-induced commodity problems also ranked among the biggest risks in regions, the WEF said.

With the intense focus on economic and geopolitical issues, cyber and digital risks were less prominent in this year’s rankings, according to the survey.

Environmental risks also ranked much lower than the top five, the survey found.

If business leaders overlook major technology risks, “this could create future blind spots, leaving their organizations vulnerable to serious cyber threats,”

; said Carolina Klint, risk management leader, Continental Europe, at Marsh LLC in a statement accompanying the report.

The transition to net-zero emissions has fallen too far down the short-term agendas of many business leaders, Peter Giger, chief risk officer at Zurich Insurance Group, said in the statement. “Even in the current geopolitical and economically challenging environment, we must focus on building a cleaner, more affordable and more secure energy system if we hope to keep a net zero future within reach,” Giger said.

More than 12,500 executives in 122 economies responded to the WEF’s 2022 Executive Opinion Survey.

The survey was conducted by WEF’s Center for the New Economy and Society, in collaboration with Marsh & McLennan Cos. Inc. and Zurich.


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