Global Risks Report 2023: 5 Biggest Risks For Next Two Years

The World Economic Forum produced the Global Risks Report 2023 in partnership with Marsh McLennan and Zurich Insurance Group. From climate change to the cost of living crisis, this global risks report shares the top five biggest global risks we face today. According to the Global Risks Report 2023, the cost of living crisis, the fallout of COVID-19, and the war in Ukraine are driving up the price of basic necessities. This could fuel social and political instability and cause humanitarian emergencies in developing economies. Natural disasters and extreme weather events caused $171 billion in damage in 2020 and affected more than 100 million people. The 2023 Global Risks Report also indicates that economic clashes between nations will become more common, which could further drive up prices and foster great distrust between countries The resources we expend tackling other crises will limit our climate mitigation efforts. This will put more strain on vulnerable communities and fragile ecosystems. Also, declining social mobility and increasing inequality are fueling frustration which could resent an existential threat to political systems around the world. The Global Risks Report 2023 also looked at the most severe risks over the long term. Watch the video to learn more.