- The World Economic Forum’s annual Global Risks Report has highlighted the cost of living crisis as the biggest short-term risk facing the world right now, with climate change as the biggest long-term threat.
- The report, which is published ahead of the Davos summit, factors the views of 1,200 figures across the private and public sectors.
- This year’s edition was produced with professional services firm Marsh McLennan and Zurich Insurance Group.
- The most-cited two-year term risks included natural disasters, geo-economic confrontation, the erosion of social cohesion, widespread cybercrime, large-scale involuntary migration, and natural resource crises, alongside climate change.
- Cybercrime and migration also featured as long-term risks, though climate-related issues took the top four spots. The cost of living was absent from the list.
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