Economic issues dominate concerns for business executives around the world, according to the World Economic Forum’s Regional Risks for Doing Business 2019 report. In a survey of nearly 13,000 business leaders in over 130 countries, respondents ranked “fiscal crises” as the leading risk to doing business at a global scale.
Globally, three of the top five risks are economic-related with “unemployment or underemployment” coming in third and “energy price shock” ranking fourth. These risks have strong links to social disruption and contribute to “failure of national governance” ranking fifth and “profound social instability” ranking sixth.
“Cyberattacks” are the second biggest challenge for executives, and the most important one for European and North American businesses for the second year in a row, highlighting the increased sophistication and proliferation of this type of attack.
John Drzik, President of Global Risk and Digital at Marsh, said: “Cybersecurity remains the most concerning risk to business leaders in advanced economies, and growing technology dependence for many businesses will only amplify this. Combined with fractious geopolitical developments, and growing economic concerns, executives face a very challenging portfolio of potential threats. Business leaders should reevaluate their underlying view of the global risk environment and make greater efforts to strengthen their corporate agility and resilience.”
For more information on the Cyberattacks and Fiscal Crises Top List of Business Risks in 2019
· Read the report launch press release here
· Read the Risks to Doing Business 2019 report here
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