Boo!

As if there aren’t already enough things to be frightened of, the World Economic Forum recently released an international jobs report that highlighted the top concerns for global business compared with previous years. Unemployment and spread of infectious disease were the top two risks cited by business executives globally, with fiscal crisis — last year’s top concern — falling to third place.  Not really surprising.

The Regional Risks for Doing Business 2020 survey results are based on 12,012 responses from business leaders in 127 countries. They were given a list of 30 global risks and asked to select the five global risks that they believe to be of most concern for doing business in their country within the next decade.

Cyberattacks have dropped down the list of top concerns for global businesses compared with previous years but remains the biggest risk for U.S. businesses.  While the top risks for global businesses are mostly related to economics, climate-related risks are causing greater concern this year, with natural catastrophes, extreme weather events and failure of climate change adaptation all rising up the list, the WEF said in a statement accompanying the report.

Captives will continue to be integral to their owners in optimizing recovery and building greater preparedness into their business models in order to be more resilient in the face of future disruptions. For more information of the survey, go to this link:

https://www.weforum.org/agenda/2020/10/risks-for-doing-business-survey-unemployment-coronavirus/

Thanks, as always, for your continued support in these trying times. I look forward to hearing from you!

Rich Smith
VCIA President

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