- The report is published annually based on Global Risks Perception Survey. It highlights key risks across five categories: Economic, Environmental, Geopolitical, Societal, and Technological.
- Global risk is defined as the possibility of the occurrence of an event or condition that, if it occurs, would negatively impact a significant proportion of global GDP, population, or natural resources.
- Global risks are ranked by severity over the short and long term.
- The top 5 risks for India are Digital inequality, Geopolitical contest for resources, Cost-of-living crisis, Debt crises, Natural disasters, and Extreme weather events over the short and medium term.
- Cost of living dominates and global risks in the next 2 years while climate action failure dominates next decade.
- Economic aftereffects of COVID-19 and the Ukraine war resulted in rising inflation, rapid normalization of monetary policies, low growth, low-investment era.
- Technology such as AI, quantum computing, biotechnology, etc. will exacerbate inequalities and the digital divide.
Global Risk Report 2023 released by World Economic Forum (WEF)
Click here for more Current Affairs
