News Middle East22 Jan 2020

Turkey:Macroeconomics overtake Nat CAT as top risk to businesses

22 Jan 2020

Allianz Global Corporate & Specialty (AGCS) has published its 2020 business risk barometer, ranking the risks that businesses around the world, including Turkey, see to be the biggest to their operations over the next 12 months.

For Turkey, macroeconomic developments moved up as the top risk this year, from second placing in 2019.

Based on the responses of 17 respondents, the biggest risks to Turkish businesses are:

2020 rank

Percent

Risk category

2019 rank

Percent

Trend

 

1

 

59%

Macroeconomic developments (e.g. monetary policies, austerity programmes, commodity price increase, deflation, inflation)

 

2

 

48%

 

2

41%

Natural catastrophes (e.g. storm, flood, earthquake)

1

52%

3

35%

Fire, explosion

6

19%

 

4

 

35%

Political risks and violence (e.g. geopolitical conflict, war, terrorism, civil commotion)

4

27%

5

29%

Changes in legislation and regulation (e.g. trade wars and tariffs, economic sanctions, protectionism, Brexit, Euro-zone disintegration)

3

40%

6

24%

Business interruption (incl. supply chain disruption)

7

15%

7

12%

Climate change/increasing volatility of weather

9

10%

 

8

 

12%

Cyber incidents (e.g. cyber crime, IT failure/outage, data breaches, fines and penalties)

 

7

 

15%

 

 

9

 

12%

Market developments (e.g. volatility, intensified competition/new entrants, M&A, market stagnation, market fluctuation)

 

5

 

23%

 

 

10

 

6%

New technologies (e.g. impact of artificial intelligence, autonomous vehicles, 3D printing, Internet of Things, nanotechnology, blockchain)

 

New

 

New

 

 Key: Risk higher than in 2019          Risk lower than in 2019

Worldwide, the barometer reflects the views of 2,718 experts in over 100 countries including chief executives, risk managers, brokers and insurance experts. The top three risks globally are: cyber incidents, business interruption and changes in legislation and regulation.

 

 

 

 

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