Global Risks Report 2025

Top five risks identified by the Executive Opinion Survey (EOS) TABLE C.2 Risk categories Economic Environmental Geopolitical Societal Technological Peru 1 st Economic downturn (e.g. recession, stagnation) 2 nd Intrastate violence (civil strikes, riots) 3 rd Crime and illicit economic activity 4 th Poverty and inequality (wealth, income) 5 th Societal polarization Philippines 1 st Economic downturn (e.g. recession, stagnation) 2 nd Poverty and inequality (wealth, income) 3 rd Inflation 4 th Food supply shortage 5 th Unemployment or lack of economic opportunity Poland 1 st Armed conflict (interstate, intrastate, proxy wars, coups etc.) 2 nd Economic downturn (e.g. recession, stagnation) 3 rd Labour and/or talent shortage 4 th Inflation 5 th Attacks on critical infrastructure Portugal 1 st Labour and/or talent shortage 2 nd Economic downturn (e.g. recession, stagnation) 3 rd Insufficient public services and social protections 4 th Poverty and inequality (wealth, income) 5 th Public debt Qatar 1 th Inflation 2 st Economic downturn (e.g. recession, stagnation) 3 nd Asset bubble burst 4 rd Attacks on critical infrastructure 5 th Geoeconomic confrontation (sanctions, tariffs, investment screening etc.) Romania 1 st Armed conflict (interstate, intrastate, proxy wars, coups etc.) 2 nd Economic downturn (e.g. recession, stagnation) 3 rd Inflation 4 th Chronic health conditions and decline in well-being 4 th Public debt Rwanda 1 st Inflation 2 nd Unemployment or lack of economic opportunity 3 rd Food supply shortage 4 th Extreme weather events (floods, heatwaves etc.) 5 th Cyber insecurity Saudi Arabia 1 st Asset bubble burst 2 nd Inflation 3 rd Adverse outcomes of artificial intelligence technologies 4 th Armed conflict (interstate, intrastate, proxy wars, coups etc.) 5 th Economic downturn (e.g. recession, stagnation) Senegal 1 st Unemployment or lack of economic opportunity 2 nd Poverty and inequality (wealth, income) 3 rd Private debt (corporate, household) 4 th Extreme weather events (floods, heatwaves etc.) 4 th Misinformation and disinformation Serbia 1 st Labour and/or talent shortage 2 nd Misinformation and disinformation 3 rd Economic downturn (e.g. recession, stagnation) 3 rd Pollution (air, water, soil) 5 th Extreme weather events (floods, heatwaves etc.) Sierra Leone 1 st Food supply shortage 2 nd Water supply shortage 3 rd Economic downturn (e.g. recession, stagnation) 3 rd Inflation 5 th Intrastate violence (civil strikes, riots) Singapore 1 st Labour and/or talent shortage 2 nd Economic downturn (e.g. recession, stagnation) 3 rd Inflation 4 th Cyber insecurity 5 th Adverse outcomes of artificial intelligence technologies Slovakia 1 st Public debt 2 nd Economic downturn (e.g. recession, stagnation) 3 rd Armed conflict (interstate, intrastate, proxy wars, coups etc.) 4 th Adverse outcomes of artificial intelligence technologies 5 th Societal polarization Slovenia 1 st Labour and/or talent shortage 2 nd Economic downturn (e.g. recession, stagnation) 3 rd Extreme weather events (floods, heatwaves etc.) 4 th Insufficient public services and social protections 5 th Public debt South Africa 1 st Energy supply shortage 2 nd Unemployment or lack of economic opportunity 3 rd Water supply shortage 4 th Poverty and inequality (wealth, income) 5 th Economic downturn (e.g. recession, stagnation) Global Risks Report 2025 89