AsianFin -- Business leaders worldwide remain apprehensive about the risk of a looming recession, labor shortages, and surging inflation, despite indications of gradual economic recovery, according to a World Economic Forum (WEF) survey released Thursday.

The WEF Executive Opinion Survey, which collected responses from over 11,000 business leaders across G20 countries, also flagged growing concerns about extreme weather events. The report highlighted the impact of record-breaking temperatures, severe flooding, and wildfires in major economies such as Brazil, Germany, Indonesia, and the United States over the past year.

"A significant level of anxiety among business leaders in G20 countries persists," said Carolina Klint, chief commercial officer for Europe at Marsh McLennan, a WEF partner alongside Zurich Insurance.

Over the next two years, economic downturn tops the list of business risks, followed by labor and talent shortages, inflation, poverty and inequality, and extreme weather events.

The survey also pointed to rising concerns over technological risks. Adverse implications of technology, including artificial intelligence, ranked as the number one business risk in Indonesia, third in the United States, and fourth in the United Kingdom.

The findings underline a complex risk landscape for businesses, combining economic instability, workforce challenges, and escalating climate threats. As global leaders convene to discuss these pressing issues, the report emphasizes the urgency of coordinated action to mitigate these intertwined risks.