Davos Analysts Name Main Risks to Global Economy in Next 10 Years

The global economy has been facing a growing number of risks, according to Global Risks Report 2016, which was published by the World Economic Forum on Thursday.

As in previous years, the 11th edition of the Global Risks Report is based on an annual survey completed by almost 750 World Economic Forum analysts and decision-makers from around the world.

"From the refugee crisis to economic slowdowns in emerging markets, from ever-rising numbers of terrorist and cyberattacks to water shortages, global risks have been in the headlines in the last year," according to the document.

"The risks about which the Report has been warning over the past decade are starting to manifest themselves in new, sometimes unexpected ways and harm people, institutions and economies," it read.

The report defines a global risk as an event or condition which, if it occurs, can have a serious negative impact on several countries or entire industries within the next 10 years.

Among the risks rated most likely to disrupt national economies and business sectors in the next decade, the report named large-scale involuntary migration as the most relevant. The others in the top five are interstate conflicts, extreme weather events, failure to mitigate and adapt to climate change, and major natural catastrophes.

The issue of climate change was considered to have the most impact in the long term. The others are weapons of mass destruction, water crises, mass involuntary migration, and severe energy price shocks.

The report underscored that all of the risks it lists are interconnected.