Top ﬁve risks identiﬁed by the Executive Opinion Survey (EOS) TABLE C.2 Risk categories Economic Environmental Geopolitical Societal Technological South Korea 1 st Economic downturn (e.g. recession, stagnation) 2 nd Extreme weather events (ﬂoods, heatwaves etc.) 3 rd Societal polarization 4 th Labour and/or talent shortage 5 th Inﬂation Spain 1 st Public debt 2 nd Labour and/or talent shortage 3 rd Societal polarization 4 th Economic downturn (e.g. recession, stagnation) 5 th Water supply shortage Sri Lanka 1 st Labour and/or talent shortage 2 nd Economic downturn (e.g. recession, stagnation) 3 rd Public debt 4 th Poverty and inequality (wealth, income) 5 th Inﬂation Sweden 1 st Economic downturn (e.g. recession, stagnation) 2 nd Involuntary migration 3 rd Crime and illicit economic activity 4 th Labour and/or talent shortage 5 th Misinformation and disinformation Switzerland 1 st Labour and/or talent shortage 2 nd Economic downturn (e.g. recession, stagnation) 3 rd Energy supply shortage 4 th Extreme weather events (ﬂoods, heatwaves etc.) 5 th Cyber insecurity Taiwan, China 1 st Energy supply shortage 2 nd Labour and/or talent shortage 3 rd Geoeconomic confrontation (sanctions, tariffs, investment screening etc.) 4 th Armed conﬂict (interstate, intrastate, proxy wars, coups etc.) 5 th Non-weather-related natural disasters (earthquakes, volcanoes, etc.) Thailand 1 st Economic downturn (e.g. recession, stagnation) 2 nd Private debt (corporate, household) 3 rd Pollution (air, water, soil) 4 th Poverty and inequality (wealth, income) 5 th Public debt Tunisia 1 st Water supply shortage 2 nd Economic downturn (e.g. recession, stagnation) 3 rd Food supply shortage 4 th Public debt 5 th Inﬂation Türkiye 1 st Inﬂation 2 nd Involuntary migration 3 rd Economic downturn (e.g. recession, stagnation) 4 th Poverty and inequality (wealth, income) 5 th Labour and/or talent shortage Ukraine 1 st Involuntary migration 2 nd Attacks on critical infrastructure 3 rd Armed conﬂict (interstate, intrastate, proxy wars, coups etc.) 4 th Labour and/or talent shortage 5 th Public debt United Arab Emirates 1 st Inﬂation 2 nd Asset bubble burst 3 rd Extreme weather events (ﬂoods, heatwaves etc.) 4 th Cyber insecurity 5 th Economic downturn (e.g. recession, stagnation) United Kingdom 1 st Economic downturn (e.g. recession, stagnation) 2 nd Inﬂation 3 rd Labour and/or talent shortage 4 th Adverse outcomes of artiﬁcial intelligence technologies 5 th Involuntary migration United Republic of Tanzania 1 st Unemployment or lack of economic opportunity 2 nd Public debt 3 rd Poverty and inequality (wealth, income) 4 th Chronic health conditions and decline in well-being 5 th Inﬂation United States of America 1 st Economic downturn (e.g. recession, stagnation) 2 nd Inﬂation 3 rd Adverse outcomes of artiﬁcial intelligence technologies 4 th Food supply shortage 5 th Extreme weather events (ﬂoods, heatwaves etc.) Uruguay 1 st Labour and/or talent shortage 2 nd Economic downturn (e.g. recession, stagnation) 3 rd Poverty and inequality (wealth, income) 4 th Crime and illicit economic activity 5 th Extreme weather events (ﬂoods, heatwaves etc.) Global Risks Report 2025 90