Global Risks Report 2026

Ghana 01 st Lack of economic opportunity or unemployment 02 nd Adverse outcomes of artificial intelligence technologies 03 rd Insufficient public services and social protections (incl. education, infrastructure, pensions) 04 th Decline in health and well-being 05 th Inflation Greece 01 st Extreme weather events (floods, heatwaves etc.) 02 nd Talent and/or labour shortages 03 rd Economic downturn (e.g. recession, stagnation) 04 th Geoeconomic confrontation (sanctions, tariffs, investment screening etc.) 05 th Debt (public, corporate, household) Guatemala 01 st Insufficient public services and social protections (incl. education, infrastructure, pensions) 02 nd Disruptions to critical infrastructure 03 rd Crime and illicit economic activity 04 th Societal polarization 05 th Lack of economic opportunity or unemployment Honduras 01 st Lack of economic opportunity or unemployment 02 nd Insufficient public services and social protections (incl. education, infrastructure, pensions) 03 rd Crime and illicit economic activity 04 th Societal polarization 05 th Extreme weather events (floods, heatwaves etc.) Hong Kong SAR, China 01 st Economic downturn (e.g. recession, stagnation) 02 nd Geoeconomic confrontation (sanctions, tariffs, investment screening etc.) 03 rd Talent and/or labour shortages 04 th Asset bubble burst 05 th Lack of economic opportunity or unemployment Hungary 01 st Inflation 02 nd Decline in health and well-being 03 rd Economic downturn (e.g. recession, stagnation) 04 th Extreme weather events (floods, heatwaves etc.) 05 th Disruptions to critical infrastructure India 01 st Cyber insecurity 02 nd Inequality (wealth, income) 03 rd Insufficient public services and social protections (incl. education, infrastructure, pensions) 04 th Economic downturn (e.g. recession, stagnation) 05 th State-based armed conflict (proxy, civil wars, coups, terrorism, etc.) Indonesia 01 st Lack of economic opportunity or unemployment 02 nd Insufficient public services and social protections (incl. education, infrastructure, pensions) 03 rd Adverse outcomes of artificial intelligence technologies 04 th Economic downturn (e.g. recession, stagnation) 05 th Inflation Iran (Islamic Republic of) 01 st Inflation 02 nd Economic downturn (e.g. recession, stagnation) 03 rd Asset bubble burst 04 th Debt (public, corporate, household) 05 th Crime and illicit economic activity Iraq 01 st Asset bubble burst 02 nd Lack of economic opportunity or unemployment 03 rd Economic downturn (e.g. recession, stagnation) 04 th Insufficient public services and social protections (incl. education, infrastructure, pensions) 05 th Disruptions to critical infrastructure Ireland 01 st Economic downturn (e.g. recession, stagnation) 02 nd Insufficient public services and social protections (incl. education, infrastructure, pensions) 03 rd Geoeconomic confrontation (sanctions, tariffs, investment screening etc.) 04 th Talent and/or labour shortages 05 th Inequality (wealth, income) Italy 01 st Decline in health and well-being 02 nd Lack of economic opportunity or unemployment 03 rd Insufficient public services and social protections (incl. education, infrastructure, pensions) 04 th Economic downturn (e.g. recession, stagnation) 05 th Inequality (wealth, income) Japan 01 st Talent and/or labour shortages 02 nd Extreme weather events (floods, heatwaves etc.) 03 rd Non-weather-related natural disasters (earth- quakes, volcanoes, tsunamis, solar flares, etc.) 04 th Geoeconomic confrontation (sanctions, tariffs, investment screening etc.) 05 th Economic downturn (e.g. recession, stagnation) Jordan 01 st Lack of economic opportunity or unemployment 02 nd Debt (public, corporate, household) 03 rd Economic downturn (e.g. recession, stagnation) 04 th Inflation 05 th Talent and/or labour shortages Kazakhstan 01 st Economic downturn (e.g. recession, stagnation) 02 nd Inflation 03 rd Lack of economic opportunity or unemployment 04 th Disruptions to critical infrastructure 05 th Geoeconomic confrontation (sanctions, tariffs, investment screening etc.) TABLE C.2 Top five risks identified by the Executive Opinion Survey (EOS) 2025 Global Risks Report 202685