The global risk landscape is emerging as major tension between the world which can highly affect global growth in a depressive manner. First, we should come to know what is meant by the global risk landscape?
The global risk landscape is referred as the unpleasant events of land that can hinder the development of business enterprise and civil society. Day by day global risks are emerging as an alarming situation in most of the sectors, as they need a great deal of attention in order to avoid them.
However, Global risks have various threats respecting to technological, geopolitical, economical and societal environment in 2019 over a ten year.
Let’s discuss the risks of the global landscape to the concerning aspects of the world:
Technical Issues :
According to the survey, it is said that technological industries are likely to be effected regarding cyber- related issues. The global risk report reveals that data or money fraud will be increased by 82%, whereas theft of personal identity and business secrecy will effect by 64%. Respondents also added that fake news and wrong information can also emerge through social media in 2019. However, there are high chances of technology risks which will hit technological businesses with unexpected challenges and disruptions due to the global risk landscape in 2019.
Most of the respondents have seemed to be worried about major geopolitical issues which are likely to be raised by global risk landscape. It is believed that there are high chances of tension between international countries in terms of the economy, whereas political issues are also supposed to emerge between leading countries. Global weapon of mass destruction (WMD) is at high risk in 2019 because trading matters and loss of assurance can be risen by 90% among major powers with respect to global risk report 2019.
By the increasing amount of global risks, Geo-economic is also in great hazards because the time is just around the corner when confrontations occurred between international countries by 91%. According to the Global Risk Report 2019, the world is going to meet difficult challenges by means of political failure, international finance and financial crime. Therefore, global risks can trigger world economic in a devastated way through which global growth will be extremely effected.
Last but not least, global risks are also going to hit significant issues of society in which weather conditions and natural disasters are on the top of the list. Global risks are going to be negatively impacted on society within the next ten years in terms of environmental issues and natural deaths. According to the respondents, air pollution will be increased by 52%, water crisis by 58%, currency crisis by 35%, terrorism by 50% and natural disaster by 62%.
It is also expected that regional environmental policies can fail cleanly as well as business industries will also be weakened due to extreme weather and climate change conditions.
Call To Action:
It is mandatory to organize risk management strategies and programs in order to meet with the global risk challenges. There is a full need to to bring change in political and economic environment with the help of new laws and attitudes to meet with the expecting global risks.