Bangladesh might face six major challenges over the next two years, according to a recent survey report conducted by the World Economic Forum (WEF).
The report analyzes global risks through three time frames to support decision-makers in balancing current crises and longer-term priorities.
The challenges outlined in the report encompass a shortage of energy supplies, inflation, economic recession, inequality, public debt, and unemployment. The Global Risks Report 2024, released on January 10, draws insights from a survey.
WEF's annual Global Risks Perception Survey, which brings together the collective intelligence of nearly 1,500 global leaders across academia, business, government, the international community and civil society.
It also leverages insights from over 200 thematic experts, including the risk specialists that form the Global Risks Report Advisory Board, Global Future Council on Complex Risks, and the Chief Risk Officers Community.
Business leaders, who were not particularly concerned about these issues in the previous year, now identify energy shortages as the most significant obstacle in the current year.
One striking observation from the report is the shift in global business concerns. While the 2023 report highlighted challenges such as severe commodity price shocks, debt crises, rapid inflation, environmental damage, and geopolitical resource competition, the current sentiment emphasizes energy shortages as the primary concern for Bangladesh.
Insights from the survey indicate that over the next two years, misinformation and disinformation have been identified as the top global risks by business leaders globally, surpassing concerns related to extreme weather, societal polarization, cyber insecurity, and armed conflict. This signifies a shift in priorities and underscores the growing recognition of the impact of information-related risks on global business landscapes.
The WEF's report provides a comprehensive analysis of the challenges faced not only by Bangladesh but also by over 100 other countries. By incorporating data from top executives and considering emerging global trends, the report offers valuable insights into the evolving landscape of risks that businesses and economies need to navigate in the coming years.
As energy shortages take center stage in Bangladesh's concerns, policymakers and businesses may need to strategize and implement effective measures to address this critical issue and ensure sustainable economic growth.
