Economic and societal threats rise on Canadian business leaders’ risk agendas
- Economic uncertainty remains the top concern for Canadian business leaders
- Social fragmentation and technological threats – including social protection gaps and misinformation – are emerging as significant risks
- Cross-sector collaboration is vital to strengthen financial resilience and address these complex challenges for businesses and society
Canadian businesses are navigating an increasingly complex risk landscape. While economic downturn and inflation continue to dominate concerns, new threats are gaining prominence: gaps in social protection, declining health and well-being, and the surge of misinformation. These insights come from the World Economic Forum’s 2025 Executive Opinion Survey, supported by Zurich Insurance Group and Marsh McLennan.
According to business leaders surveyed, Canada’s biggest risks for the next two years are:
- Economic downturn (e.g. recession, stagnation)
- Inflation
- Misinformation and disinformation
- Decline in health and well-being
- Lack of economic opportunity or unemployment
These risks reflect the complex challenges Canadian businesses and society now face, and underscore the importance of proactive, collaborative solutions.
Financial pressures from rising costs are impacting households and businesses alike, creating ripple effects such as reduced well-being and fewer economic opportunities. When people struggle financially, workplace resilience and social stability suffer. Now is the time for collective action. By partnering across sectors, we can strengthen financial resilience and build a brighter future for Canadians.
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 cost of living 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.
Global risk landscape
The annual survey reveals the top five risks over the next two years identified by more than 11,000 business leaders from 116 countries. Fears relating to an economic downturn continue to dominate concerns cited by G20 business leaders – leading the list overall for the third consecutive year.
For the first time, technological threats associated with misinformation and disinformation entered the top risks for G20 business leaders, in fifth place. This likely reflects fears that advances in AI are fueling information warfare amid rising geopolitical tensions, influencing elections and global markets, and threatening critical infrastructure and cybersecurity.
Social risks associated with insufficient public services and social protections, and a lack of economic opportunity or unemployment were ranked in second and third place, reflecting growing concerns about social fragmentation. Inflation, which was cited as the third-most pressing risk in 2024, was ranked fourth this year.
Extreme weather events, which were ranked as the fifth biggest risk by G20 leaders in 2024, did not feature in this year’s top five risks.
What’s next?
Building resilience against these risks requires coordinated action across sectors. By working together, Canadian businesses, governments, and communities can secure a stronger, more stable future.
Further information
The Executive Opinion Survey is conducted by the World Economic Forum’s Centre for the New Economy and Society. Zurich Insurance Group and Marsh McLennan are strategic partners of the World Economic Forum