Top ﬁve risks identiﬁed by the Executive Opinion Survey (EOS) TABLE C.2 Risk categories Economic Environmental Geopolitical Societal Technological Honduras 1 st Energy supply shortage 2 nd Unemployment or lack of economic opportunity 3 rd Labour and/or talent shortage 4 th Extreme weather events (ﬂoods, heatwaves etc.) 5 th Involuntary migration Hong Kong SAR, China 1 st Economic downturn (e.g. recession, stagnation) 2 nd Labour and/or talent shortage 3 rd Geoeconomic confrontation (sanctions, tariffs, investment screening etc.) 4 th Asset bubble burst 5 th Unemployment or lack of economic opportunity Hungary 1 st Economic downturn (e.g. recession, stagnation) 2 nd Inﬂation 3 rd Labour and/or talent shortage 4 th Public debt 5 th Misinformation and disinformation Iceland 1 st Inﬂation 2 nd Non-weather-related natural disasters (earthquakes, volcanoes, etc.) 3 rd Economic downturn (e.g. recession, stagnation) 4 th Labour and/or talent shortage 5 th Energy supply shortage India 1 st Water supply shortage 2 nd Misinformation and disinformation 3 rd Erosion of human rights and/or civic freedoms 4 th Pollution (air, water, soil) 5 th Labour and/or talent shortage Indonesia 1 st Adverse outcomes of artiﬁcial intelligence technologies 2 nd Economic downturn (e.g. recession, stagnation) 3 rd Poverty and inequality (wealth, income) 4 th Extreme weather events (ﬂoods, heatwaves etc.) 5 th Food supply shortage Iran (Islamic Republic of) 1 st Inﬂation 2 nd Water supply shortage 3 rd Armed conﬂict (interstate, intrastate, proxy wars, coups etc.) 4 th Economic downturn (e.g. recession, stagnation) 5 th Geoeconomic confrontation (sanctions, tariffs, investment screening etc.) Iraq 1 st Armed conﬂict (interstate, intrastate, proxy wars, coups etc.) 2 nd Economic downturn (e.g. recession, stagnation) 3 rd Water supply shortage 4 th Energy supply shortage 5 th Crime and illicit economic activity Ireland 1 st Labour and/or talent shortage 2 nd Economic downturn (e.g. recession, stagnation) 3 rd Misinformation and disinformation 4 th Energy supply shortage 5 th Cyber insecurity Israel 1 st Armed conﬂict (interstate, intrastate, proxy wars, coups etc.) 2 nd T errorist attacks 3 rd Attacks on critical infrastructure 4 th Economic downturn (e.g. recession, stagnation) 5 th Intrastate violence (civil strikes, riots) Italy 1 st Economic downturn (e.g. recession, stagnation) 2 nd Extreme weather events (ﬂoods, heatwaves etc.) 3 rd Inﬂation 4 th Labour and/or talent shortage 5 th Poverty and inequality (wealth, income) Jamaica 1 st Labour and/or talent shortage 2 nd Crime and illicit economic activity 3 rd Extreme weather events (ﬂoods, heatwaves etc.) 4 th Inﬂation 5 th Economic downturn (e.g. recession, stagnation) Japan 1 st Labour and/or talent shortage 2 nd Non-weather-related natural disasters (earthquakes, volcanoes, etc.) 3 rd Economic downturn (e.g. recession, stagnation) 4 th Extreme weather events (ﬂoods, heatwaves etc.) 5 th Energy supply shortage Jordan 1 st Unemployment or lack of economic opportunity 2 nd Inﬂation 3 rd Economic downturn (e.g. recession, stagnation) 4 th Water supply shortage 5 th Public debt Kazakhstan 1 st Armed conﬂict (interstate, intrastate, proxy wars, coups etc.) 2 nd Economic downturn (e.g. recession, stagnation) 3 rd Water supply shortage 4 th Poverty and inequality (wealth, income) 4 th Inﬂation Global Risks Report 2025 86