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COVID-19 Risks Outlook

COVID-19 Risks Outlook

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A Preliminary Mapping and Its Implications

SUMMARY

The COVID-19 Risks Outlook report by the World Economic Forum reveals that the coronavirus crisis has put the spotlight on key shortcomings in pandemic preparedness, socio-economic safety nets, and cooperation across countries.

Global governments have been forced to balance health security imperatives against the economic fallout resulting in a rise of societal anxieties as a result of the coronavirus pandemic, the paper notes. Also, the reliance on digital infrastructure has increased in a way never seen before due to COVID-19 spread, the research points out.

This analysis by the World Economic Forum aims to give a overview of which existing global risks may be amplified by the coronavirus crisis and which new ones may emerge. 

According to the report's findings, a large share of respondents mentioned that a prolonged global economic recession was at the top of concerns for businesses. Besides, 50% referred to bankruptcies, the failure of industries to recover, and disruption of supply chains as main economic worries. An increase in cyberattacks and data fraud were also highlighted as worrisome factors for companies.

The WEF research on COVID-19 risks notes that omitting sustainability criteria in recovery efforts or going back to an emissions-intensive global economy risks hampering the climate-resilient low-carbon transition. 

On the other hand, the paper also analyses the effect of measures to contain the coronavirus spread on society and mental health.  Lockdowns and shutdowns, it notes, could have a long-term impact on people and societies. High structural unemployment could boost inequality, for instance, and have a toll on mental health and societal cohesion, as well as direct economic negative consequences.

The study explains how the coronavirus crisis is causing a significant rise in dependence on technology which also implies cybersecurity risks. The quick implementation of new technology solutions has made other risks evident over the corona crisis including digital fragmentation, privacy violations, and inequality.

OUTLINE

Introduction

Economic shifts

Social disruptions

Abrupt technology adoption

Decision-makers

Appendices

DETAILS

Overview

Researchfinder Rating
5 out of 5 stars
Title
COVID-19 Risks Outlook
Sub-Title
A Preliminary Mapping and Its Implications
Region
Global
Published
May 15, 2020
Publisher
WEF , World Economic Forum
Author(s)
Emilio Granados Franco, Richard Lukacs, Marie Sophie Müller, Philip Shetler-Jones, Saadia Zahidi
Price
FREE
Language
ENGLISH

Content

Number of Pages
66
Number of Tables
0
Number of Exhibits
11
Topics
business-and-corona, security
Tags
automation, corona, coronavirus, Covid-19, cyber attack, cyber risk, data fraud, digital fragmentation, global, health, healthcare, home office, inequality, privacy, regulation, sustainability, WEF, World Economic Forum
Author(s)
Emilio Granados Franco, Richard Lukacs, Marie Sophie Müller, Philip Shetler-Jones, Saadia Zahidi
Methodology
This report examines the views of 350 senior risk professionals who took part in the COVID-19 Risks Perception Survey.
EVALUATION

Excellent report which analyzes global risks resulting from the coronavirus pandemic and stands out for its quality insights, clear language, and appealing design.

Positives:

  • Excellent insights
  • Clear language
  • Great graphs
  • Appealing design
  • Great appendices
  • Comprehensive survey results

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