According to the Oxford-GlobeScan Global Corporate Affairs 2024 Survey, Corporate Affairs professionals are increasingly alarmed about the impact of geopolitical conflicts and tensions on businesses. This is the fifth annual Oxford-GlobeScan Global Corporate Affairs Survey, which provides the latest overview of opinions, trends, and challenges through the lens of Corporate Affairs practitioners. This survey captures the views and insights of 227 senior professionals in 43 countries who were surveyed from February to April 2024 on issues and themes relevant to their function.
Results show that geopolitical risk and uncertainty is once again the biggest perceived short-term category of risk to global businesses, having risen to the number-one slot in 2022 with the onset of the war in Ukraine. The perceived threat to business posed by geopolitical factors has dramatically increased in 2024 as the Middle East becomes increasingly enveloped in conflict, with 70 percent of respondents now identifying geopolitical uncertainty as the most significant risk to business over the next two years. Climate change continues to be cited as the second biggest risk, followed by the macroeconomic impact on business – although concern over the latter has decreased significantly in the past year. Significant increases in concern since last year are seen in the perceived risks to business associated with a rise in populism and polarization and the risks related to the impacts of AI and emerging technologies.
WHAT DOES THIS MEAN?
Survey Question: What are the biggest risks for global businesses over the next two years?
Source: Oxford-GlobeScan Corporate Affairs Survey (a survey of 227 Corporate Affairs practitioners across 43 countries from February to April 2024)
