Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Cost of living is biggest risk to world economy, says Davos forum

by January 12, 2023
January 12, 2023
Cost of living is biggest risk to world economy, says Davos forum

The cost of living crisis is the biggest risk facing the global economy this year, the World Economic Forum has warned ahead of its annual meeting in Davos.

About 1,200 industry executives and policymakers listed the most severe risks over a two and ten-year horizon, with the cost of living at the top of short-term concerns. This was followed by the threat of natural disaster, geoeconomic confrontation, failure to mitigate climate change, and societal polarisation.

World leaders and business executives will convene in the Swiss mountain resort of Davos next week for the first winter forum summit since 2020. The war in Ukraine, a looming global recession and trade wars will be the backdrop for the meeting, which has a pared-down cast this year.

President Biden of the US, President Xi of China and Rishi Sunak, the prime minister, will not be there. Olaf Scholz, the German chancellor, and Ursula von der Leyen, president of the European Commission, will make keynote addresses.

Every region of the world is due to suffer from falling real incomes, the World Bank has warned, with the most acute pressure in the poorest countries. UK households are on course to see an unprecedented two-year drop in disposable income as a result of high inflation, a rising tax burden and a slowing economy. Similar income squeezes are projected in the European Union.

“The next decade will be characterised by environmental and societal crises, driven by underlying geopolitical and economic trends,” the forum’s report said. “Concurrent shocks, deeply interconnected risks and eroding resilience are giving rise to the risk of polycrises where disparate crises interact such that the overall impact far exceeds the sum of each part.”

Read more:
Cost of living is biggest risk to world economy, says Davos forum

0
FacebookTwitterGoogle +Pinterest
previous post
Sacked Twitter UK staff claim unlawful treatment in ‘sham’ redundancy
next post
Microsoft staff to get unlimited leave

You may also like

Musk urged to build Tesla factory in Teeside

August 8, 2022

Festive season fuels 2.5 million visits to the...

December 23, 2022

UK in danger of losing British tradespeople to...

July 30, 2023

IWG reports rise in UK workspace visits as...

December 27, 2022

The Wealthy Wayfarer: Personal Finance Tips for the...

April 21, 2024

Vouchsafe secures £1 million pre-seed funding to tackle...

March 18, 2025

What is a retail experience agency and how...

October 17, 2023

Businesses expect taxes to rise after general election

November 6, 2023

Government-backed council to champion ‘unsung’ mid-sized businesses

December 2, 2024

HSBC sets aside $876m for bad loans amid...

April 29, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • What Is SameAgeDates? A Closer Look at Presence‑Driven Dating

      August 4, 2025
    • Cryptocurrency Trading: Five Strategies to Strengthen Your Position as a Reputable Broker

      August 4, 2025
    • UAE’s World’s Safest Country Ranking Creates ‘Safety Premium’ in Real Estate Market

      August 4, 2025
    • GOP memo preps House Republicans to tout Trump’s ‘big, beautiful bill’ as Dems go on offense

      August 4, 2025
    • Cornyn takes swing at James, Schiff with new LETITIA Act targeting ‘crooked politicians’

      August 4, 2025
    • Trump confirms 2 nuclear submarines are ‘in the region’ to counter Russia

      August 4, 2025

    Categories

    • Business (8,661)
    • Investing (2,170)
    • Politics (16,296)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved