The top global risks of doing business
Global risks are uncertain events or conditions that, if occurred, can cause significant negative impact for several countries or industries within the next 10 years. A survey was carried out among 140 economies to identify the risks of higher concern in their country and regional levels that can usefully inform initiatives to engage the private sector in building resilience to global risks.
Half of the 140 economies mentioned that the top two global risks of highest concern for doing business are:
- Unemployment and underemployment
- Energy price shocks
These global risks are followed by national governance failure, fiscal crises, asset bubbles and cyberattacks. While some patterns emerge on a global scale, the analysis of the EOS data shows that the global risks of highest concern for doing business differ considerably from country to country. Economic risks dominate the responses from Europe, including the risk of fiscal crises which is among the top five risks of highest concern in 26 economies out of a total of 39. Unemployment or underemployment tops the list in 12 countries, including five in Southern Europe where the crisis has had a particularly severe impact: Cyprus, Greece, Italy, Portugal and Spain
The identification of global risks of highest concern is a first step to taking adequate mitigation measures and to build resilient businesses. With the richness of the dataset on the risks of highest concern for doing business at the country-level, companies now have an additional tool to help them strengthen their resilience. Nevertheless, many global risks can only be addressed through collaboration among public and private sector actors and there is a strong case for businesses to join in partnerships with the public sector.
Techmode Outsourcing situated in Mauritius offers effective outsourcing solutions to businesses. With a stable economy, Mauritius is ranked first in Africa for ease of doing business and forecast shows a rebound in economic activities with growth rate rising to 5.7% in 2016. The Government has mapped out its economic plan and this budget lays the foundation for boosting quality investment in traditional, emerging and new sectors; generating more jobs and nurturing an entrepreneurship culture thus providing a safe environment for businesses to operate in the country.