Special Report
Food, Water, And Recession: What Developing Countries Worry About The Most
Published:
Key Points
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Economic uncertainty, intra-state conflict, and climate risks are rising around the world.
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Many global risks are reflected in the national-level fears of business leaders around the world.
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Economic downturn is a top-cited risk in the developing world, alongside armed conflict and water scarcity.
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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
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