Business leaders rank economic downturn and energy shortages among the five biggest threats facing Australia in the next two years, a World Economic Forum survey has found.

Inflation, food shortages and a dearth of labour complete the top five near-term risks for Australia, according to the global survey, conducted in collaboration with Zurich and Marsh McLennan.

Across the G20 bloc, business leaders are most concerned with economic slowdown, labour shortages, inflation, poverty and inequality, and extreme weather.

There are also growing concerns over technological risks, including adverse outcomes from artificial intelligence such as misinformation and disinformation.

“While we are witnessing some positive trends in the global economy, the findings of this year’s Executive Opinion Survey highlight a significant level of anxiety among business leaders in G20 countries,” Marsh McLennan chief commercial officer for Europe Carolina Klint said.

“The persistent threats of recessions, labour shortages, increased protectionism and elevated inflation are at the top of senior executives’ minds as we head towards 2025.

“Additionally, the emergence of extreme weather events and technological risks ... complicate the landscape.”

Zurich group chief risk officer Peter Giger urges business leaders to act early to address risk.

“By proactively identifying and mitigating these diverse risks, businesses can build resilience and thrive in the face of uncertainty. Addressing these issues head-on will not only safeguard the operations but also position companies for sustainable success in the future.”