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Key Points Economic uncertainty, intra-state conflict, and climate risks are rising around the world. Many global risks are reflected in the national-level fears of business leaders around the world. Economic downturn is a top-cited risk in the developing world, alongside armed conflict and water scarcity. In an uncertain world, sound financial advice is an asset. Click here to get started. In a year marked by global economic uncertainty, geopolitical instability, and escalating climate impacts, many of the world’s developing countries are facing a number of overlapping and compounding risks. While the developed world is concerned over factors like economic downturn, population declines and labor shortages, and misinformation and AI, the most pressing concerns in the developing world remain grounded in basic needs like energy, food, and water, according to a new report. In the World Economic Forum’s Global Risks Report 2025, the WEF surveyed more than 11,000 business leaders in 121 countries about national fears and anxieties. Participants were asked to identify the five risks most likely to threaten their country in the next two years, offering a snapshot of national-level risk perception across income levels and regions.. Respondents were asked to identify the five risks most likely to pose the biggest threat to their country over the next two years, offering a bottom-up perspective on national-level vulnerabilities. Developing countries are most focused on economic survival and resource access. Armed conflict is the top fear in seven of the 40 largest developing countries, while water shortage and food shortage also appear often. Economic downturn and inflation are top cited concern for many. Regional trends also stand out. In sub-Saharan Africa, countries like Nigeria, Zambia, and South Africa emphasize energy and food supply risks alongside economic strain. In Latin America, crime, intrastate violence, and societal polarization rise to the top in countries like Chile, Colombia, and Peru. A closer look at the data reveals the threats that developing countries are worried about the most. To determine what developing countries are worried about the most, 24/7 Wall St. reviewed data on national-level concerns from the World Economic Forum’s Executive Opinion Survey. Results are based on a survey asking over 11,000 business leaders in 121 economies about the risks that pose the most severe threat to their country in the next two years. Developed countries were ordered by population. 40. Chad Most cited risk: Poverty and inequality (wealth, income) Second most cited risk: Water supply shortage Third most cited risk: Energy supply shortage Fourth most cited risk: Food supply shortage Fifth most cited risk: Economic downturn (e.g. recession, stagnation) 39. Chile Most cited risk: Crime and illicit economic activity Second most cited risk: Societal polarization Third most cited risk: Involuntary migration Fourth most cited risk: Economic downturn (e.g. recession, stagnation) Fifth most cited risk: Intrastate violence (civil strikes, riots) 38. Kazakhstan Most cited risk: Armed conflict (interstate, intrastate, proxy wars, coups etc.) Second most cited risk: Economic downturn (e.g. recession, stagnation) Third most cited risk: Water supply shortage Fourth most cited risk: Poverty and inequality (wealth, income) Fifth most cited risk: Inflation 37. Zambia Most cited risk: Energy supply shortage Second most cited risk: Food supply shortage Third most cited risk: Water supply shortage Fourth most cited risk: Poverty and inequality (wealth, income) Fifth most cited risk: Economic downturn (e.g. recession, stagnation) 36. Malawi Most cited risk: Economic downturn (e.g. recession, stagnation) Second most cited risk: Extreme weather events (floods, heatwaves etc.) Third most cited risk: Public debt Fourth most cited risk: Inflation Fifth most cited risk: Unemployment or lack of economic opportunity 35. Sri Lanka Most cited risk: Labor or talent shortage Second most cited risk: Economic downturn (e.g. recession, stagnation) Third most cited risk: Public debt Fourth most cited risk: Poverty and inequality (wealth, income) Fifth most cited risk: Inflation 34. Mali Most cited risk: Armed conflict (interstate, intrastate, proxy wars, coups etc.) Second most cited risk: Energy supply shortage Third most cited risk: Adverse outcomes of artificial intelligence technologies Fourth most cited risk: Cyber insecurity Fifth most cited risk: Chronic health conditions and decline in well-being 33. Venezuela Most cited risk: Energy supply shortage Second most cited risk: Economic downturn (e.g. recession, stagnation) Third most cited risk: Insufficient public services and social protections Fourth most cited risk: Water supply shortage Fifth most cited risk: Inflation 32. Cameroon Most cited risk: Unemployment or lack of economic opportunity Second most cited risk: Inflation Third most cited risk: Armed conflict (interstate, intrastate, proxy wars, coups etc.) Fourth most cited risk: Energy supply shortage Fifth most cited risk: Chronic health conditions and decline in well-being 31. Nepal Most cited risk: Unemployment or lack of economic opportunity Second most cited risk: Involuntary migration Third most cited risk: Economic downturn (e.g. recession, stagnation) Fourth most cited risk: Labor or talent shortage Fifth most cited risk: Pollution (air, water, soil) 30. Cote d’Ivoire Most cited risk: Armed conflict (interstate, intrastate, proxy wars, coups etc.) Second most cited risk: Poverty and inequality (wealth, income) Third most cited risk: Intrastate violence (civil strikes, riots) Fourth most cited risk: Public debt Fifth most cited risk: Inflation 29. Saudi Arabia Most cited risk: Asset bubble burst Second most cited risk: Inflation Third most cited risk: Adverse outcomes of artificial intelligence technologies Fourth most cited risk: Armed conflict (interstate, intrastate, proxy wars, coups etc.) Fifth most cited risk: Economic downturn (e.g. recession, stagnation) 28. Ghana Most cited risk: Inflation Second most cited risk: Pollution (air, water, soil) Third most cited risk: Public debt Fourth most cited risk: Economic downturn (e.g. recession, stagnation) Fifth most cited risk: Unemployment or lack of economic opportunity 27. Peru Most cited risk: Economic downturn (e.g. recession, stagnation) Second most cited risk: Intrastate violence (civil strikes, riots) Third most cited risk: Crime and illicit economic activity Fourth most cited risk: Poverty and inequality (wealth, income) Fifth most cited risk: Societal polarization 26. Malaysia Most cited risk: Economic downturn (e.g. recession, stagnation) Second most cited risk: Labor or talent shortage Third most cited risk: Inflation Fourth most cited risk: Food supply shortage Fifth most cited risk: Unemployment or lack of economic opportunity 25. Uzbekistan Most cited risk: Water supply shortage Second most cited risk: Energy supply shortage Third most cited risk: Pollution (air, water, soil) Fourth most cited risk: Public debt Fifth most cited risk: Labor or talent shortage 24. Angola Most cited risk: Poverty and inequality (wealth, income) Second most cited risk: Economic downturn (e.g. recession, stagnation) Third most cited risk: Inflation Fourth most cited risk: Unemployment or lack of economic opportunity Fifth most cited risk: Public debt 23. Morocco Most cited risk: Water supply shortage Second most cited risk: Inflation Third most cited risk: Poverty and inequality (wealth, income) Fourth most cited risk: Unemployment or lack of economic opportunity Fifth most cited risk: Economic downturn (e.g. recession, stagnation) 22. Yemen Most cited risk: Armed conflict (interstate, intrastate, proxy wars, coups etc.) Second most cited risk: Economic downturn (e.g. recession, stagnation) Third most cited risk: Unemployment or lack of economic opportunity Fourth most cited risk: Poverty and inequality (wealth, income) Fifth most cited risk: Chronic health conditions and decline in well-being 21. Iraq Most cited risk: Armed conflict (interstate, intrastate, proxy wars, coups etc.) Second most cited risk: Economic downturn (e.g. recession, stagnation) Third most cited risk: Water supply shortage Fourth most cited risk: Energy supply shortage Fifth most cited risk: Crime and illicit economic activity 20. Argentina Most cited risk: Economic downturn (e.g. recession, stagnation) Second most cited risk: Poverty and inequality (wealth, income) Third most cited risk: Inflation Fourth most cited risk: Public debt Fifth most cited risk: Unemployment or lack of economic opportunity 19. Algeria Most cited risk: Inflation Second most cited risk: Water supply shortage Third most cited risk: Unemployment or lack of economic opportunity Fourth most cited risk: Cyber insecurity Fifth most cited risk: Infectious diseases (COVID-19, influenza, tuberculosis, malaria etc.) 18. Colombia Most cited risk: Armed conflict (interstate, intrastate, proxy wars, coups etc.) Second most cited risk: Economic downturn (e.g. recession, stagnation) Third most cited risk: Intrastate violence (civil strikes, riots) Fourth most cited risk: Poverty and inequality (wealth, income) Fifth most cited risk: Societal polarization 17. Kenya Most cited risk: Economic downturn (e.g. recession, stagnation) Second most cited risk: Unemployment or lack of economic opportunity Third most cited risk: Public debt Fourth most cited risk: Poverty and inequality (wealth, income) Fifth most cited risk: Food supply shortage 16. South Africa Most cited risk: Energy supply shortage Second most cited risk: Unemployment or lack of economic opportunity Third most cited risk: Water supply shortage Fourth most cited risk: Poverty and inequality (wealth, income) Fifth most cited risk: Economic downturn (e.g. recession, stagnation) 15. Tanzania Most cited risk: Unemployment or lack of economic opportunity Second most cited risk: Public debt Third most cited risk: Poverty and inequality (wealth, income) Fourth most cited risk: Chronic health conditions and decline in well-being Fifth most cited risk: Inflation 14. Thailand Most cited risk: Economic downturn (e.g. recession, stagnation) Second most cited risk: Private debt (corporate, household) Third most cited risk: Pollution (air, water, soil) Fourth most cited risk: Poverty and inequality (wealth, income) Fifth most cited risk: Public debt 13. Turkey Most cited risk: Inflation Second most cited risk: Involuntary migration Third most cited risk: Economic downturn (e.g. recession, stagnation) Fourth most cited risk: Poverty and inequality (wealth, income) Fifth most cited risk: Labor or talent shortage 12. Iran Most cited risk: Inflation Second most cited risk: Water supply shortage Third most cited risk: Armed conflict (interstate, intrastate, proxy wars, coups etc.) Fourth most cited risk: Economic downturn (e.g. recession, stagnation) Fifth most cited risk: Geoeconomic confrontation (sanctions, tariffs, investment screening etc.) 11. Vietnam Most cited risk: Adverse outcomes of artificial intelligence technologies Second most cited risk: Economic downturn (e.g. recession, stagnation) Third most cited risk: Inflation Fourth most cited risk: Labor or talent shortage Fifth most cited risk: Water supply shortage 10. Democratic Republic of Congo Most cited risk: Armed conflict (interstate, intrastate, proxy wars, coups etc.) Second most cited risk: Poverty and inequality (wealth, income) Third most cited risk: Unemployment or lack of economic opportunity Fourth most cited risk: Crime and illicit economic activity Fifth most cited risk: Food supply shortage 9. Egypt Most cited risk: Inflation Second most cited risk: Public debt Third most cited risk: Economic downturn (e.g. recession, stagnation) Fourth most cited risk: Armed conflict (interstate, intrastate, proxy wars, coups etc.) Fifth most cited risk: Water supply shortage 8. Philippines Most cited risk: Economic downturn (e.g. recession, stagnation) Second most cited risk: Poverty and inequality (wealth, income) Third most cited risk: Inflation Fourth most cited risk: Food supply shortage Fifth most cited risk: Unemployment or lack of economic opportunity 7. Mexico Most cited risk: Water supply shortage Second most cited risk: Crime and illicit economic activity Third most cited risk: Energy supply shortage Fourth most cited risk: Poverty and inequality (wealth, income) Fifth most cited risk: Insufficient public services and social protections 6. Bangladesh Most cited risk: Inflation Second most cited risk: Extreme weather events (floods, heatwaves etc.) Third most cited risk: Pollution (air, water, soil) Fourth most cited risk: Unemployment or lack of economic opportunity Fifth most cited risk: Economic downturn (e.g. recession, stagnation) 5. Brazil Most cited risk: Economic downturn (e.g. recession, stagnation) Second most cited risk: Public debt Third most cited risk: Labor or talent shortage Fourth most cited risk: Extreme weather events (floods, heatwaves etc.) Fifth most cited risk: Poverty and inequality (wealth, income) 4. Nigeria Most cited risk: Food supply shortage Second most cited risk: Economic downturn (e.g. recession, stagnation) Third most cited risk: Unemployment or lack of economic opportunity Fourth most cited risk: Poverty and inequality (wealth, income) Fifth most cited risk: Energy supply shortage 3. Pakistan Most cited risk: Economic downturn (e.g. recession, stagnation) Second most cited risk: Inflation Third most cited risk: Water supply shortage Fourth most cited risk: Energy supply shortage Fifth most cited risk: Poverty and inequality (wealth, income) 2. Indonesia Most cited risk: Adverse outcomes of artificial intelligence technologies Second most cited risk: Economic downturn (e.g. recession, stagnation) Third most cited risk: Poverty and inequality (wealth, income) Fourth most cited risk: Extreme weather events (floods, heatwaves etc.) Fifth most cited risk: Food supply shortage 1. India Most cited risk: Water supply shortage Second most cited risk: Misinformation and disinformation Third most cited risk: Erosion of human rights or civic freedoms Fourth most cited risk: Pollution (air, water, soil) Fifth most cited risk: Labor or talent shortage The post Food, Water, And Recession: What Developing Countries Worry About The Most appeared first on 24/7 Wall St..
