Which Risks Will Trouble The Globe In 2023?

The cost-of-living crisis poses the biggest worldwide risk in 2023, according to findings in the World Economic Forum’s Global Risks Report 2023.

Two years from now, experts expect the cost of living will still be the number one risk on the global agenda. A ten-year outlook, however, shows climate action failure will dominate as the biggest risk.

The report, produced in partnership with Marsh McLennan and Zurich Insurance Group, draws on insights from more than 1,200 experts and policymakers worldwide.

A myriad of risk categories -- environmental, geopolitical, societal and technological -- are expected to have the biggest impacts in the next two years. Natural disasters and extreme weather events come in second place for the biggest global risks in 2023, followed by geoeconomic confrontation in third.

Failure to mitigate climate change and erosion of social cohesion and societal polarization sit at fourth and fifth place, respectively.