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Visualized: A Global Risk Assessment of 2022 and Beyond

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2022 Global Risks Horizon

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Visualized: A Global Risk Assessment of 2022 and Beyond

Since the start of the global pandemic, we’ve been navigating through tumultuous waters, and this year is expected to be as unpredictable as ever.

In the latest annual edition of the Global Risks Report by the World Economic Forum (WEF), it was found that a majority of global leaders feel worried or concerned about the outlook of the world, and only 3.7% feel optimistic.

Ever year, the report identifies the top risks facing the world, as identified by nearly 1,000 surveyed experts and leaders across various disciplines, organizations, and geographies.

What global risks are leaders and experts most concerned about, and which ones are posing imminent threats? Let’s dive into the key findings from the report.

Methodology for WEF’s Global Risk Assessment

In the survey, respondents were asked to compare 37 different risks, which were broken down into five categories: economic, environmental, geopolitical, societal, and technological.

To get a sense of which risks were seen as more urgent than others, respondents were asked to identify when they believed these threats would become a serious problem to the world, based on the following timeframes:

  • Short-term threats: 0-2 years
  • Medium-term threats: 2-5 years
  • Long-term threats: 5-10 years

By categorizing global risks into these time horizons, it helps provide a better idea of the problems that decision makers and governments may have to deal with in the near future, and how these risks may interrelate with one another.

Short-Term Risks

When it comes to short-term threats, respondents identified societal risks such as “the erosion of social cohesion” and “livelihood crises” as the most immediate risks to the world.

TimeframeCategoryThreat% of Respondents
0-2 years🟢 EnvironmentalExtreme weather31.1%
0-2 years🔴 SocietalLivelihood crises30.4%
0-2 years🟢 EnvironmentalClimate action failure27.5%
0-2 years🔴 SocietalSocial cohesion erosion27.5%
0-2 years🔴 SocietalInfectious diseases26.4%
0-2 years🔴 SocietalMental health deterioration26.1%
0-2 years🟣 TechnologicalCybersecurity failure19.5%
0-2 years🔵 EconomicDebt crises19.3%
0-2 years🟣 TechnologicalDigital inequality18.2%
0-2 years🔵 EconomicAsset bubble burst14.2%

These societal risks have worsened since the start of COVID-19. And as emerging variants threaten our journey towards normalcy, the pandemic continues to wreak havoc worldwide, with no immediate signs of slowing down.

According to respondents, one problem triggered by the pandemic is rising inequality, both worldwide and within countries.

Many developed economies managed to adapt as office workers pivoted to remote and hybrid work, though many industries, such as hospitality, still face significant headwinds. Easy access to vaccines has helped these countries mitigate the worst effects of outbreaks.

Regions with low access to vaccines have not been so fortunate, and the economic divide could become more apparent as the pandemic stretches on.

Medium-Term Risks

A majority of respondents believe we’ll continue to struggle with pandemic-related issues for the next three years. Because of this, the medium-term risks identified by respondents are fairly similar to the short-term risks.

TimeframeCategoryThreat% of Respondents
2-5 years🟢 EnvironmentalClimate action failure35.7%
2-5 years🟢 EnvironmentalExtreme weather34.6%
2-5 years🔴 SocietalSocial cohesion erosion23.0%
2-5 years🔴 SocietalLivelihood crises20.1%
2-5 years🔵 EconomicDebt crises19.0%
2-5 years🟢 EnvironmentalHuman environmental damage16.4%
2-5 years🟡 GeopoliticalGeoeconomic confrontations14.8%
2-5 years🟣 TechnologicalCybersecurity failure14.6%
2-5 years🟢 EnvironmentalBiodiversity loss13.5%
2-5 years🔵 EconomicAsset bubble burst12.7%

The pressing issues caused by COVID-19 mean that many key governments and decision-makers are struggling to prioritize long-term planning, and no longer have the capacity to help out with global issues. For example, the UK government postponed its foreign aid target until at least 2024. If countries continue to prioritize themselves in an effort to mitigate the impact of COVID-19, the inequality gap could widen even further.

Respondents also worry about rising debt levels triggering a crisis. The debt-to-GDP ratio globally spiked by 13 percentage points in 2020, a figure that will almost certainly continue to rise in the near future.

Long-Term Risks

Respondents identified climate change as the biggest threat to humanity in the next decade.

TimeframeCategoryThreat% of Respondents
5-10 years🟢 EnvironmentalClimate action failure42.1%
5-10 years🟢 EnvironmentalExtreme weather32.4%
5-10 years🟢 EnvironmentalBiodiversity loss27.0%
5-10 years🟢 EnvironmentalNatural resource crises23.0%
5-10 years🟢 EnvironmentalHuman environmental damage21.7%
5-10 years🔴 SocietalSocial cohesion erosion19.1%
5-10 years🔴 SocietalInvoluntary migration15.0%
5-10 years🟣 TechnologicalAdverse tech advances14.9%
5-10 years🟡 GeopoliticalGeoeconomic confrontations14.1%
5-10 years🟡 GeopoliticalGeopolitical resource contestation13.5%

Climate inaction—essentially business as usual—could lead to a global GDP loss between 4% and 18%, with varying impacts across different regions.

Experts also pointed out that current decarbonization commitments made at COP26 last year still aren’t enough to slow warming to the 1.5°C goal set in the Paris Climate Agreement, so more action is needed to mitigate environmental risk.

That said, efforts to curb climate change and solve long-term issues will likely have negative short-term impacts on the global economy and society. So risk mitigation efforts need to be in place as we work to reach net-zero and ultimately slow down climate change.

Risk Mitigation Efforts

People’s thoughts on risk mitigation were gauged in the WEF survey. Respondents were asked to identify which risks our world is most equipped to handle, and which ones they believe we’re less prepared for.

Global Risk Mitigation Efforts

“Trade facilitation,” “international crime,” and “weapons of mass destruction” were risks that respondents felt we’ve effectively prepared for. On the flip side, “artificial intelligence” and “cross-border cyberattacks and misinformation” are areas where most respondents think we’re most unprotected against.

As society becomes increasingly reliant on digital infrastructure, experts predict we will see an uptick in cyber attacks and cybercrime. New AI-enabled technologies that offer ransomware-as-a-service allow anyone to engage in cybercrime—even those without the technical knowledge needed to build malware.

How Do We Move Forward?

Based on the findings from this year’s survey, WEF identified five lessons that governments, businesses, and decision-makers should utilize in order to build resilience and prepare for future challenges:

  1. Build a holistic mitigation framework: Rather than focusing on specific risks, it’s helpful to identify the big-picture worst-case scenario and work back from there. Build holistic systems that protect against adverse outcomes.
  2. Consider the entire ecosystem: Examine third-party services and external assets, and analyze the broader ecosystem in which you operate.
  3. Embrace diversity in resilience strategies: Not all strategies will work across the board. Complex problems will require nuanced efforts. Adaptability is key.
  4. Connect resilience efforts with other goals: Many resilience efforts could benefit multiple aspects of society. For instance, efficient supply chains could strengthen communities and contribute to environmental goals.
  5. Think of resilience as a journey, not a destination: Remaining agile and vigilant is vital when building out resilience programs, as these efforts are new and require reflection in order to improve.

The next few years will be riddled with complex challenges, and our best chance at mitigating these global risks is through increased collaboration and consistent reassessment.

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Mapped: The Industry Hiring the Most People In Every Country

The restaurant industry has the most vacancies in the U.S., followed by non-profit organizations.

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Mapped: The Industry Hiring the Most People In Every Country

Job searching can be challenging, especially when you are located in a region where your skills may not be in high demand.

This map illustrates which industry is hiring the most people in every country, based on LinkedIn job listings searched by Resume.io. This analysis only considers countries with 300 or more job listings and data is as of August 2023.

The Top Job Postings in America, Canada, the UK, and Australia

The restaurant industry had the most vacancies in the U.S., accounting for 7.9% of all job ads. It was followed by non-profit organizations with 5.6%, and motor vehicle manufacturing with 4.4%:

U.S. Industry by Job Ads% of Job Ads
Restaurants7.86%
Non-profit Organizations5.59%
Motor Vehicle Manufacturing4.41%
Software Development4.28%
Hospitality4.07%
Wellness and Fitness Services3.78%
Financial Services3.76%
Transportation, Logistics, Supply Chain, Storage3.61%
Internet Publishing3.59%
Defense and Space Manufacturing3.53%

According to the study, the trend in restaurant hiring is indicative of America’s return to eating out after the COVID-19 pandemic.

Meanwhile, hospitals and health care were Canada’s biggest potential employers, with almost 15% of all job ads. Retail came in second with 12.4%, followed by staffing and recruitment with 6.8%:

Canadian Industry by Job Ads% of Job Ads
Hospitals and Health Care14.82%
Retail12.45%
Staffing and Recruiting6.85%
Human Resources Services4.61%
IT Services and IT Consulting3.86%
Technology, Information and Internet3.75%
Financial Services3.53%
Manufacturing3.16%
Internet Publishing2.85%
Construction2.61%

In the UK, the construction industry had the most wanted ads with 9.2%. Britain’s construction industry has faced ongoing worker shortages, exacerbated by Brexit, which has prevented EU citizens from working in the UK without visas:

UK Industry by Job Ads% of Job Ads
Construction9.22%
Industrial Machinery Manufacturing6.03%
Education Administration Programs5.78%
Financial Services4.88%
Non-profit Organizations4.69%
Civil Engineering3.99%
Motor Vehicle Manufacturing3.62%
Accounting3.45%
Advertising Services3.43%
Hospitality3.36%

Just three sectors accounted for over 30% of the jobs available in Australia. Government administration was the sector hiring the most people (11.60%), followed by staffing and recruiting (10.8%) and hospitals and health care (10.2%):

Australian Industry by Job Ads% of Job Ads
Government Administration11.60%
Staffing and Recruiting10.81%
Hospitals and Health Care10.20%
Retail6.85%
IT Services and IT Consulting5.55%
Financial Services3.06%
Construction3.01%
Education Administration Programs2.68%
Human Resources Services2.54%
Software Development2.24%

Industry Hiring In Every Country by Job Ads in 2023

Across all countries, two sectors posted the most wanted ads in the most countries (28), staffing and recruiting and IT services and IT consulting. Healthcare and retail industries also appear among those in high demand.

CountryIndustry
🇦🇱 AlbaniaInternet Publishing
🇩🇿 AlgeriaBanking
🇦🇴 AngolaHuman Resources Services
🇦🇷 ArgentinaHuman Resources Services
🇦🇲 ArmeniaSoftware Development
🇦🇺 AustraliaGovernment Administration
🇦🇹 AustriaRetail
🇦🇿 AzerbaijanBanking
🇧🇭 BahrainStaffing and Recruiting
🇧🇩 BangladeshSoftware Development
🇧🇪 BelgiumStaffing and Recruiting
🇧🇴 BoliviaHuman Resources Services
🇧🇦 Bosnia and HerzegovinaSoftware Development
🇧🇷 BrazilTechnology, Information and Internet
🇧🇬 BulgariaIT Services and IT Consulting
🇰🇭 CambodiaHospitality
🇨🇦 CanadaHospitals and Health Care
🇰🇾 Cayman IslandsIT Services and IT Consulting
🇹🇩 ChadStaffing and Recruiting
🇯🇪 Channel Islands (Jersey)Financial Services
🇨🇱 ChileHuman Resources Services
🇨🇳 ChinaTechnology, Information and Internet
🇨🇴 ColombiaHuman Resources Services
🇨🇩 Congo (Democratic Republic of the)Hospitality
🇨🇷 Costa RicaIT Services and IT Consulting
🇭🇷 CroatiaIT Services and IT Consulting
🇨🇾 CyprusTechnology, Information and Internet
🇨🇿 Czech RepublicStaffing and Recruiting
🇩🇰 DenmarkRetail
🇩🇴 Dominican RepublicInsurance
🇪🇨 EcuadorIT Services and IT Consulting
🇪🇬 EgyptTechnology, Information and Internet
🇸🇻 El SalvadorHuman Resources Services
🏴󠁧󠁢󠁥󠁮󠁧󠁿 EnglandStaffing and Recruiting
🇪🇪 EstoniaTechnology, Information and Internet
🇪🇹 EthiopiaSoftware Development
🇫🇮 FinlandIT Services and IT Consulting
🇫🇷 FranceStaffing and Recruiting
🇬🇫 French GuianaIT Services and IT Consulting
🇬🇪 GeorgiaStaffing and Recruiting
🇩🇪 GermanyStaffing and Recruiting
🇬🇭 GhanaHigher Education
🇬🇷 GreeceTechnology, Information and Internet
🇬🇵 GuadeloupeTechnology, Information and Internet
🇬🇹 GuatemalaHuman Resources Services
🇭🇹 HaitiStaffing and Recruiting
🇭🇳 HondurasIT Services and IT Consulting
🇭🇰 Hong Kong (SAR)Financial Services
🇭🇺 HungaryIT Services and IT Consulting
🇮🇸 IcelandHigher Education
🇮🇳 IndiaStaffing and Recruiting
🇮🇩 IndonesiaHospitality
🇮🇶 IraqDefense and Space Manufacturing
🇬🇧 Ireland (Northern)Staffing and Recruiting
🇮🇪 Ireland (Republic of)Staffing and Recruiting
🇮🇲 Isle of ManHuman Resources Services
🇮🇱 IsraelSoftware Development
🇮🇹 ItalyRetail
🇯🇲 JamaicaStaffing and Recruiting
🇯🇵 JapanIT Services and IT Consulting
🇯🇴 JordanTechnology, Information and Internet
🇰🇿 KazakhstanIT Services and IT Consulting
🇰🇪 KenyaSoftware Development
🇰🇼 KuwaitDefense and Space Manufacturing
🇰🇬 KyrgyzstanIT Services and IT Consulting
🇱🇻 LatviaIT Services and IT Consulting
🇱🇧 LebanonTechnology, Information and Internet
🇱🇮 LiechtensteinStaffing and Recruiting
🇱🇹 LithuaniaIT Services and IT Consulting
🇱🇺 LuxembourgStaffing and Recruiting
🇲🇴 MacaoHuman Resources Services
🇲🇰 Macedonia (North)Technology, Information and Internet
🇲🇾 MalaysiaFinancial Services
🇲🇹 MaltaTechnology, Information and Internet
🇲🇶 MartiniqueTechnology, Information and Internet
🇲🇺 MauritiusFinancial Services
🇲🇽 MexicoIT Services and IT Consulting
🇲🇩 MoldovaInternet Publishing
🇲🇨 MonacoStaffing and Recruiting
🇲🇦 MoroccoIT Services and IT Consulting
🇲🇲 MyanmarStaffing and Recruiting
🇳🇵 NepalSoftware Development
🇳🇱 NetherlandsStaffing and Recruiting
🇳🇿 New ZealandStaffing and Recruiting
🇳🇮 NicaraguaIT Services and IT Consulting
🇳🇬 NigeriaHuman Resources Services
🇳🇴 NorwayStaffing and Recruiting
🇴🇲 OmanStaffing and Recruiting
🇵🇰 PakistanSoftware Development
🇵🇦 PanamaIT Services and IT Consulting
🇵🇬 Papua New GuineaStaffing and Recruiting
🇵🇾 ParaguayTelecommunications
🇵🇪 PeruHuman Resources Services
🇵🇭 PhilippinesIT Services and IT Consulting
🇵🇱 PolandIT Services and IT Consulting
🇵🇹 PortugalIT Services and IT Consulting
🇵🇷 Puerto RicoRetail
🇶🇦 QatarStaffing and Recruiting
🇷🇪 ReunionBusiness Consulting and Services
🇷🇴 RomaniaIT Services and IT Consulting
🇷🇺 RussiaTechnology, Information and Internet
🇸🇭 Saint HelenaSoftware Development
🇸🇦 Saudi ArabiaStaffing and Recruiting
🏴󠁧󠁢󠁳󠁣󠁴󠁿 ScotlandStaffing and Recruiting
🇸🇳 SenegalStaffing and Recruiting
🇷🇸 SerbiaIT Services and IT Consulting
🇸🇬 SingaporeStaffing and Recruiting
🇸🇰 SlovakiaIT Services and IT Consulting
🇸🇮 SloveniaTechnology, Information and Internet
🇿🇦 South AfricaStaffing and Recruiting
🇰🇷 South KoreaIT Services and IT Consulting
🇪🇸 SpainIT Services and IT Consulting
🇱🇰 Sri LankaIT Services and IT Consulting
🇸🇪 SwedenGovernment Administration
🇨🇭 SwitzerlandInternet Publishing
🇹🇼 TaiwanSoftware Development
🇹🇭 ThailandSoftware Development
🇹🇳 TunisiaSoftware Development
🇹🇷 TurkeySoftware Development
🇻🇮 U.S. Virgin IslandsIT Services and IT Consulting
🇺🇬 UgandaEducation Administration Programs
🇺🇦 UkraineSoftware Development
🇦🇪 United Arab EmiratesTransportation, Logistics, Supply Chain and Storage
🇬🇧 United KingdomConstruction
🇺🇸 United States of AmericaRestaurants
🇺🇾 UruguaySoftware Development
🇻🇪 VenezuelaConsumer Services
🇻🇳 VietnamSoftware Development
🏴󠁧󠁢󠁷󠁬󠁳󠁿 WalesConstruction

Which countries or industries stand out the most to you?

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