The Future Risks Report explores the risks we may face in the future. This report is based on an annual survey asking 3,600 experts from 57 countries and a representative sample of 23,000 individuals from 18 countries to rank their top 10 risks, based on their potential impact on society over the next five to ten years.

In this 12th edition, climate change tops experts’ risk rankings for the fifth consecutive year, but the gaps are narrowing with risks linked to geopolitical instability (2nd position), cybersecurity (3rd position) and social tensions (4th position). These results illustrate the polycrisis phenomenon and reinforce the need for a holistic approach to risk management while prioritizing national solutions.

In 2025, climate change remains the top risk overall for both experts and the general population. The sense of vulnerability to climate change is high: 66% of experts and 75% of the general population feel vulnerable to the risk in their daily life, though these figures are down slightly from last year’s survey (70% and 77%  respectively). Only 12% of experts and 32% of the general population believe that public authorities are well prepared to handle it, down two percentage points from last year and the lowest figure since the survey began.

Geopolitical instability ranks 2nd for experts and 6th for the general population—in both cases, unchanged from last year. 84% of experts and 79% of the general population think there is a significant risk that geopolitical tensions lead to a global war.

Technological risks are emerging at an unprecedented pace. Cybersecurity ranks  3rd for both experts and general population while concerns about AI and big data risks among the general population are closing the gap with expert opinions (4th for experts, 7th for the general population, up three places). Those who chose this risk cited AI-related threats to human rights and interests as their main concern, and were more likely than for other risks to say that it is rapidly emerging.

Risks related to changing demographics enter the top 10 for the first time, in 10th position. The combination of declining fertility rates and rising life expectancy will increasingly lead to a shrinking workforce needing to support a growing elderly population. 74% of experts and 71% of the general population believe there is a significant risk that their country’s healthcare system could collapse in the next decade.