The Impact Of Inflation, Debt Crisis And Life Cost Crisis Will Be A Threat For G20 State Businessmen In The Next Two Years

Illustration. (Photo: Doc. Antara/Pixabay)

JAKARTA - Zurich's latest research with the World Economic Forum, namely the Executive Opinion Survey, reports that business leaders in Indonesia are still identifying the debt crisis as the main threat felt throughout 2022, similar to the results of a survey in 2021.

As an official statement from Zurich, the survey results state that conflicts between countries and geopolitical contestation of strategic resources (risks related to geopolitical), and inequality in digital services (tech risks) are at the top five risks for business leaders in Indonesia.

In fact, conflict between countries and inflation is quickly ranked second on the list.

Chief Risk Officer Zurich Indonesia Wayan Pariama said the results of this year's survey were quite different compared to last year, especially in the field of digital inequality, where in last year's survey the digital category did not appear as the top category.

According to him, it is not surprising that digital inequality will appear this year, because Indonesia is at the stage of accelerating digital infrastructure development to offer equitable digital services and support digital transformation.

Thus, the correlation between the economy, geopoliticals, and technology dominates the risks among business leaders in Indonesia, as they seek to address concerns about economic conditions, as well as intensify rapid inter-state relations and digital transformation in all business sectors.

Furthermore, this study also concluded that the impact of rapid inflation, debt crisis, and cost of living crises are the biggest threats to doing business in G20 member countries in the next two years.

As a leading insurance company in Indonesia, Zurich always strives to play a big role to protect the public and business from risk and increase their resilience. Insights helped us in building a better proposition and protecting the Indonesian people and their business better in the future. " Wayan said as quoted by Antara, Wednesday, November 16.

The results of this survey are based on responses to more than 12,000 business leaders from 122 countries conducted between April and August 2022, published ahead of COP27 in Egypt and the G20 Summit in Bali, November 2022.