Unemployment is the biggest risk for businesses globally, according to a World Economic Forum survey of business leaders published on Wednesday.
The company executives put unemployment or underemployment as the top risk over the next 10 years, followed by fiscal crises and the failure of national governance, data from the WEF’s Executive Opinion Survey showed.
The survey of 12,411 executives across 136 countries provides a backdrop for the World Economic Forum’s Global Risks report published shortly before its annual January meeting in Davos, Switzerland, according to a spokesman for insurance broker Marsh. Marsh is part of Marsh & McLennan Cos., which published the data together with Zurich Insurance.
“Geopolitical risks and events have led to uncertainties which raise questions about how to manage resilience in uncertain times,” said John Scott, chief risk officer, commercial insurance, at Zurich.
For businesses in the North America, East Asia and Pacific regions, the biggest risks were considered to be cyber attacks and asset bubbles.
(Reporting by Carolyn Cohn; editing by Jane Merriman)
[Editor’s note: The World Economic Forum survey reveals that the top global risks of highest concern in 2017 are: 1) Unemployment or underemployment; 2) Fiscal crises; 3) Failure of national governance; 4) Energy price shock; 5) Profound social instability; 6) Failure of financial mechanism or institution; 7) Failure of critical infrastructure; 8) Cyber attacks; 9) Inter-state conflict; 10) Terrorist attacks.
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