Global Risk Report Quarterly Update – Q3 2023
All the vital news, analysis, and commentary curated by our industry experts.
Global Risk Report Overview
The GlobalData Country Risk Index (GCRI) in Q3 2023 reveals a risk score of 44.3 out of 100 in Q3 2023. The decline in the risk index is attributed to positive factors such as easing inflationary pressures and a gradually improving labor market, contributing to enhanced consumer confidence.
However, the economic risk score increased to 45.4 in Q3 2023 from 43.1 in the same quarter of 2022, reflecting numerous challenges confronting the global economy. Persisting challenges impacting the risk score are geopolitical tensions, reduced external demand, elevated borrowing costs, and economic turmoil in China.
The “Global Risk Report Q3 2023” is based on GlobalData Country Risk Index (GCRI), which is a unique country risk-rating model. It determines the existing and future levels of country risk by assessing various qualitative and quantitative factors. The index is formulated to help firms prepare their global business strategies based on historical developments in an economy and their future expectations.
|Global Risk Score (Q3 2023)
|44.3 out of 100
· Middle East and Africa
|Enquire & Decide
|Discover the perfect solution for your business needs. Enquire now and let us help you make an informed decision before making a purchase.
Buy The Full Report for More Information on Global Risk Report Quarterly Update – Q3 2023, Download A Free Report Sample
Global Risk Report - Regional Analysis
The key regions contemplated in the Global Risk Report Q3 2023 are Asia-Pacific, Europe, the Americas, and the Middle East and Africa.
Asia-Pacific: Asia-Pacific has the second-lowest risk score in the world at 41.8 in Q3 2023. The region is home to many emerging and developing economies, including Vietnam, the Philippines, and India. These countries have witnessed tremendous growth lately owing to factors such as increased domestic activity, rising investments, and a rebound in tourism.
Americas: The Americas retained its second-highest global risk ranking with a risk score of 45.8 in Q3 2023, a marginal decrease from Q3 2022. The decline is attributed to factors such as alleviated inflationary pressures, a halt or reduction in the policy rate, a decrease in the unemployment rate, and an increase in consumer spending.
Europe: Europe remains the world’s least risky region, with a reduced risk score of 32.7 in Q3 2023, compared to 33.4 in Q3 2022. After successfully overcoming challenges posed by the pandemic and energy price shocks, Europe faces the complex task of reinstating price stability while nurturing strong and environmentally sustainable long-term growth. The growth forecast is shaped by the interplay of tightened macroeconomic policies and a resurgence in real incomes, propelled by decreasing inflation and rising wages.
Middle East and Africa: The MEA region recorded a risk score of 53.5 in Q3 2023. The region’s risk profile is heightened due to economic instability because of declining oil production and geopolitical instability arising from ongoing conflicts. Compounding the challenges is a deteriorating humanitarian crisis in the area.
Regional Risk Level – Q3 2023
Buy The Full Report for More Insights into The Regional Risk Level in Q3 2023, Download A Free Report Sample
• Global risk: The GlobalData Country Risk Index (GCRI) for Q3 2023 exhibits a decrease in risk score, declining from 44.9 in Q3 2022 to 44.3 out of 100. This decline is attributed to positive factors like easing inflationary pressures and a gradually improving labor market, contributing to enhanced consumer confidence. However, challenges persist, including geopolitical tensions, reduced external demand, elevated borrowing cost, and economic turmoil in China.
• Asia-Pacific: Asia-Pacific now has the second-lowest risk score in the world, down from 42 in Q3 2022 to 41.8 in Q3 2023. The Asia-Pacific region’s emerging and developing economies have grown rapidly lately, helped by factors like increased domestic activity, rising investments, and a rebound in tourism. Several emerging Asian economies, including Vietnam, the Philippines, and India, are still experiencing rapid growth driven by positive trends in investment and consumption, even as China’s economic recovery is slowing down. Though circumstances differ amongst countries, this points to a promising future for the Asia-Pacific region.
• Americas: The risk score for the Americas region decreased from 47.7 in Q3 2022 to 45.8 in Q3 2023. The decline was attributed to factors such as alleviated inflationary pressures, a halt or reduction in the policy rate, a decrease in the unemployment rate, and an increase in consumer spending. Despite this reduction, the Americas retained its second-highest global risk ranking, with the Middle East and Africa being the only region ranked higher. This positioning was primarily influenced by vulnerabilities identified in Latin American countries.
• Europe: Europe remains the world’s least risky region, with a reduced risk score of 32.7 in Q3 2023, compared to 33.4 in Q3 2022. After successfully overcoming challenges posed by pandemic and energy price shocks, Europe faces the complex task of reinstating price stability while nurturing strong and environmentally sustainable long-term growth. The growth forecast is shaped by the interplay of tightened macroeconomic policies and a resurgence in real incomes, propelled by decreasing inflation and rising wages.
• Middle East and Africa: Recording a risk score of 53.5 in Q3 2023, the Middle East and Africa persist as the region with the highest risk level. Economic growth in major oil-producing nations is hampered by decline in oil production. The region’s risk profile is further heightened by geopolitical instability arising from ongoing conflicts. Compounding the challenges is a deteriorating humanitarian crisis in the area.
Reasons to Buy
Global Risk Report is a valuable tool that provides critical information and insights to support decision-making, protect your business or investments, and enhance your overall risk management capabilities.
Risk identification: A risk report provides an in-depth analysis of potential risks and threats that may impact your business or investments. It helps identify and prioritize risks, enabling you to take proactive measures to mitigate them.
Decision-making support: A risk report provides valuable insights and data-driven information that can assist you in making informed decisions. It helps you assess the potential impact of risks on your objectives and aids in developing effective strategies to manage and minimize those risks.
Business continuity planning: Understanding potential risks and their impact is crucial for effective business continuity planning. A risk report provides an overview of risks that could disrupt your operations, allowing you to develop contingency plans and ensure uninterrupted business operations.
Table of Contents
GlobalData Country Risk Index (GCRI) – Country Ranking
GCRI Q3 2023 – Key Takeaways
Global Overview – Summary
Global Overview – Key Highlights
Flashback – January 2023 to December 2023
Key Events – January 2024 to December 2024
GCRI Q3 2023 Heat Map
GCRI – Global Landscape 2023
Major Risks and Recovery
Regional Analysis – Asia-Pacific
Regional Analysis – Europe
Regional Analysis – Americas
Regional Analysis – Middle East and Africa
Methodology & Appendix
Frequently asked questions
What was the global risk score for Q3 2023?
The global risk score was 44.3 out of 100 in Q2 2023.
What are the key regions discussed in the global risk report?
The key regions discussed in the report are Asia-Pacific, Europe, the Americas, and the Middle East and Africa.
What region stands as the highest-risk region?
The Middle East and Africa have the highest risk score of 53.5 in Q3 2023 owing to the economic instability due to declining oil production, and geopolitical instability arising from ongoing conflicts.
What region stands as the lowest risk region?
Europe continues to be the least-risk region in the world after overcoming challenges posed by the pandemic and energy price shock.
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.
Business Intelligence & Marketing Manager, SAL Heavy Lift
“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.
GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”
Market Analyst & Management, Liebherr-Werk
“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”
Head of Key Accounts, Saab AB
Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.
Marketing Intelligence Manager, Portugal Foods
Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.
Head of Customer Insight and Research, Standard Chartered
Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.
I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.
I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.
Head of Consumer Sensory Insights, Givaudan
“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.
Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”
Senior Account Manager, TSYS
GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise. The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.
I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.
One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.