In this ever-evolving world, we find ourselves confronted with a series of risks that exhibit a unique blend of novelty and unsettling familiarity. The Global Risks Report 2023 meticulously delves into a comprehensive analysis of the most formidable risks that loom on the horizon, potentially impacting our lives over the next ten years. As we find ourselves perched on the precipice of an era characterized by sluggish economic growth and dwindling global cooperation, we face the daunting prospect of making difficult trade-offs that could compromise crucial climate action, impede human development, and weaken our ability to withstand future adversities.
Unveiling the Global Risks Report 2023: Navigating Unprecedented Challenges in an Uncertain Decade
The early years of this decade have thrust humanity into a period of disruption unlike any other in history. The anticipated return to a “new normal” following the aftermath of the COVID-19 pandemic was abruptly interrupted by the outbreak of conflict in Ukraine, setting in motion a fresh wave of crises in the realms of food and energy. These crises, in turn, triggered setbacks that counteracted decades of progress in these areas. As the year 2023 dawns upon us, the world finds itself confronted with a set of risks that exude a peculiar blend of novelty and haunting familiarity. We witness the resurgence of “older” risks such as inflation, cost-of-living crises, trade wars, capital outflows from emerging markets, widespread social unrest, geopolitical tensions, and the ominous specter of nuclear warfare – challenges that few business leaders and policy-makers of this generation have encountered. Simultaneously, these risks are amplified by comparatively new developments in the global risks landscape, including unsustainable levels of debt, a new era of low growth and global investment, de-globalization, a regression in human development despite decades of progress, the rapid and unchecked advancement of dual-use technologies (civilian and military), and the mounting pressures of climate change in the face of a shrinking window for transitioning to a 1.5°C world. Collectively, these converging factors shape a decade that promises to be unique, uncertain, and turbulent.
Overview of the Global Risks Report 2023:
The Global Risks Report 2023 unveils the findings derived from the latest Global Risks Perception Survey (GRPS). This report adopts three distinct time frames to comprehend global risks comprehensively. Chapter 1 examines the escalating impact of ongoing crises, i.e., global risks that are currently unfolding, on the most severe risks projected to manifest in the short term (within two years). Chapter 2 delves into a selection of risks that are anticipated to pose the greatest severity in the long term (over a span of ten years). This section explores emerging or rapidly accelerating economic, environmental, societal, geopolitical, and technological risks that have the potential to shape the landscape of tomorrow.
Conclusion: The Global Risks Report 2023 serves as a vital resource for navigating the unprecedented challenges that lie ahead in this uncertain decade. By shedding light on the mounting risks and their potential consequences, this report empowers business leaders, policy-makers, and individuals to make informed decisions and develop effective strategies to mitigate these risks. As we confront the complexities posed by a rapidly evolving global landscape, it is crucial to understand the short-term and long-term risks that demand our attention. Through proactive measures and collaborative efforts, we can strive towards building a more resilient and sustainable future, while adapting to the unique uncertainties and turbulences that define the path ahead.
Details & Insights: Global risks ranked by severity over the short and long term
Short- and long-term global outlook
Global risks landscape: an interconnections map
Source: World Economic Forum, Global Risks
The foundation of this report rests upon the results of our annual Global Risks Perception Survey, which amalgamates valuable insights from more than 1,200 experts spanning the extensive network of the World Economic Forum. This survey harnesses the collective wisdom of the world’s foremost risk experts, including the Global Risks Advisory Board, the Chief Risk Officers Community, as well as thematic experts hailing from academia, business, government, the international community, and civil society. Additionally, the report benefits greatly from the expertise provided by the World Economic Forum’s platforms, which tirelessly strive to drive concrete, positive changes for the long haul. They extend their gratitude to their esteemed partners, Marsh McLennan and Zurich Insurance Group, who have been instrumental in the development of this report.