Businesses around the world, except in the United States, see geopolitical instability as the biggest short-term threat, according to the 2025 Oxford-GlobeScan Global Corporate Affairs Survey.
The research found that 76% of corporate affairs practitioners ranked geopolitical risk as their top concern, up from 47% five years ago. All regions of the world report this as their top risk, except the US, where macroeconomic risks attached to Donald Trump’s return to the presidency and new tariffs are cited as today’s primary risk to businesses.
Macroeconomic volatility is the second most-cited risk that non-US based respondents are concerned about.
Based on the views and insights of 245 senior corporate affairs professionals, the research suggests that political populism and social division are now recognised by respondents as ‘established realities’ rather than cited as causes of concern.
“Since 2020, the perception that political populism poses a risk to business had been steadily rising. Interestingly, this concern has grown for business in general but fewer respondents this year view it as a high-level threat to their own organizations,” stated the report authors.
Climate change is cited as the third most-pressing concern in every region, except Asia-Pacific, where respondents express comparatively higher concern about the impact of AI and emerging technologies. Conversely, AI is seen as one of the ‘greatest opportunities’ for business elsewhere in the world. Respondents reported that, over the next two years, opportunities in AI are seen as emerging in three key areas: leveraging innovation and AI, advancing sustainable growth strategies, and driving economic growth.
There appears to be a refocusing of the business agenda. Corporate affairs seems to be refocusing on trust, stakeholder engagement, and reputation strategies. In response to growing uncertainty and political polarisation, the function is reportedly returning to human-centred fundamentals such as direct stakeholder engagement and proactive communication. Corporate affairs teams are increasingly collaborating with senior leaders, especially the CEO and Board, but continue to face challenges in clearly articulating their value to the broader business.
