Epidemics lead world’s biggest short-term risks: World Economic Forum

Infectious diseases and livelihood crises led the rankings of risks expected to pose a critical threat to the world in the next two years, according to a survey of more than 650 World Economic Forum (WEF) members from business, government and academia.

Extreme weather events and cybersecurity failure were also key risks, WEF said in an annual risks report on Tuesday.

The COVID-19 pandemic has already had a devastating impact on many livelihoods, as global lockdowns have led to job losses and business closures. It has also exacerbated issues such as increasing inequalities over access to technology and the threat of civil unrest.

“The pandemic has accelerated trends that have been coming for a long time,” said Carolina Klint, risk management leader, Continental Europe, at insurance broker Marsh.

Medium-term worries include burst asset bubbles and debt crises, the report found, while the biggest long-term concerns were of the use of weapons of mass destruction and of state collapses.

via Reuters