Cost-of-living crisis stands as the biggest threat to UAE businesses

 

Riyadh: The global cost of living crisis will be the biggest threat to UAE businesses over the next two years, according to the World Economic Forum’s Global Risks Report 2023.

The report’s findings show that US-based professional services Re-analyzed by Marsh McLennan of the firm.

The report identified the above obstacles as the top short-term serious threats to the UAE’s business continuity and economic growth.

The conclusions were drawn from interviews with a panel of over 12,000 executives.

It also incorporates the views of her more than 1,200 global risk experts, policymakers and industry leaders in 121 countries.

Brad Simpson, Risk Management Leader for MENA at Marsh McLennan, said: , debt and supply chain risks.

“The Global Risks Report 2023 also clearly shows that the pandemic is having a profound impact on near-term risk concerns related to asset bubbles across economies and resource-driven geopolitical instability.

The cost of living crisis not only affects the UAE, but ranks as the most serious global risk over the next 24 months, according to the report.

According to Global Risk Perception Survey respondents, it is a short-term risk that will peak over the next few years and then ease,” the report said.

“However, the ongoing global cost of living crisis has led to a growing proportion of the most vulnerable segments of society being denied access to their basic needs, resulting in civil unrest and political instability. It could mean connecting.”

Originally published at https://businessdor.com on January 24, 2023.