Geneva, Switzerland, 21 September 2011 – The World Economic Forum’s
Global Confidence Index shows very little confidence worldwide in the
state of the global economy and in global governance over the next 12
months.
Over 1,000 global experts from the public and private sectors were
surveyed; one-half of the respondents are pessimistic about the global
economic outlook and one-quarter anticipates there will be an economic
disruption during the next year. One in four say there is a lack of
global leadership to deal with problems during this time and a
majority fear a geopolitical as well as societal upheaval, according
to the quarterly Global Confidence Index.
Perspectives outside the private sector were the most bearish with
almost 54% of the respondents indicating that they are not confident
in the state of the global economy; just over 40% expressed little
confidence in the economy in the next 12 months.
All respondents are members of the World Economic Forum’s Network of
Global Agenda Councils. This is the only research initiative of its
kind that targets such a unique and large group of international
experts who focus on monitoring key trends, identifying global risk
and mapping their interlinkages.
“Lack of confidence in the state of the global economy is not
surprising, but the corresponding lack of confidence in global
governance and global cooperation is far more troubling,” noted Lee
Howell, Forum Managing Director who heads the Forum’s Risk Response
Network. “Such a pessimistic economic prognosis shows the great need
for visionary leaders and collaborative leadership, particularly when
60% of respondents doubt the ability of leaders to cooperate
globally.”
This new quarterly survey is an ongoing joint initiative with the Risk
Response Network which is responsible for developing the Global Risk
Report published each January by the World Economic Forum. The next
Global Confidence Index results will be available on 16 November and
then again on 23 January ahead of the World Economic Forum Annual
Meeting 2012 in Davos-Klosters, Switzerland.