Epidemics, livelihood crises world's biggest risks over next 2 years: World Economic Forum

Among a series of threats to our world in the next two years, infectious diseases and crises of livelihood topped the list of a survey undertaken by the World Economic Forum.

Over 650 members of the WEF from an array of fields including business, government, and academia participial in survey, and also identified extreme weather events and cybersecurity failure as key risks.

The WEF released its annual risks report on Tuesday, and took into account the havoc wreaked by COVID-19. Lockdowns were imposed around the globe to contain the spread of the virus, but this has led to major job losses and closure of businesses.

Owing to this, the threat of civil unrest has also increased, along with unequal access to technology.

The WEF also referred to medium-term worries including debt crises, as found by the report.

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Other long-term concerns include the use of weapons of mass destruction, along with collapses of state.

"As governments, businesses and societies begin to emerge from the pandemic, they must now urgently shape new economic and social systems that improve our collective resilience and capacity to respond to shocks while reducing inequality, improving health and protecting the planet," Saadia Zahidi, the managing director at WEF said.

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"The pandemic has accelerated trends that have been coming for a long time," Carolina Klint, the risk management leader of Continental Europe at the broker Marsh told Reuters.

Global leaders are set to host a virtual Davos Agenda next week. Usually, the leaders meet in January in Switzerland. This time, they will meet face-to-face in Singapore in May.