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

Unite union boss warns disputes will continue if...

August 23, 2022

Hunt hints further tax cuts could be announced...

January 21, 2024

Rachel Reeves to relax non-dom tax rules as...

January 23, 2025

Asda’s grocery market share slips as Chairman Lord...

August 14, 2024

Network Rail workers to strike again in November

October 19, 2022

Revive Your Designs: The Power of the One-Click...

December 30, 2024

An agency’s top tips on advertising for a...

February 19, 2024

Visitors to the UK’s leading attractions down 25%...

March 17, 2023

The Evolution of Digital Marketing: How UK-Based Agencies...

September 20, 2024

Retail sales continue year-long downward spiral amid cost...

September 16, 2022

    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

    • The Best Five Sectors, #22

      June 9, 2025
    • Half of Brits would trust AI for legal advice, survey finds – but experts urge caution

      June 9, 2025
    • Business leaders paralysed by risk warn BDO as caution stifles growth

      June 9, 2025
    • Starmer pledges £1bn investment to supercharge UK tech and AI infrastructure

      June 9, 2025
    • 5 terrifying flashpoints that could ignite global war

      June 9, 2025
    • HMRC inheritance tax investigations surge 37% as treasury seeks to plug revenue gap

      June 9, 2025

    Categories

    • Business (8,161)
    • Investing (2,019)
    • Politics (15,572)
    • Stocks (3,137)
    • 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