Cyber incidents and business interruption rank as the most concerning issues for corporations in an annual survey of 2,700 risk management experts from 94 countries and territories, according to the Allianz Risk Barometer 2023 report. Macroeconomic developments, such as inflation, financial market volatility and looming recession, along with the energy crisis are also growing concerns on this year’s list of global business risks.
As the above-mentioned concerns grow, worries about natural catastrophes and climate change were ranked lower than in the previous year and the pandemic was no longer a concern. However, political risks and violence, a shortage of skilled workers, changes in legislation and regulations and fire/explosion were cited as potential risks.