Economic unrest is predicted to become the greatest security-impacting hazard for businesses across Europe over the coming year, according to the World Security Report published by G4S.
The first ever World Security Report was conducted with the help of 1775 chief security officers in 30 countries, at large, international companies with total revenue of more than $20 trillion.
In Europe, 447 CSOs from eight countries were surveyed: Austria, Belgium, Denmark, Estonia, France, Germany, the Netherlands and the United Kingdom.
42% of those who carried out the study, predict Economic unrest to be the biggest security-impacting hazard, a jump of nine percentage points compared to the previous year. The Netherlands is anticipated to be most impacted by 49% of those surveyed, followed by Belgium at 48% and Germany at 44% in the next 12 months. CSOs from Estonia ranked it lower than any other country, at 31%.
With the financial uncertainty caused by this, security leaders anticipate an increase in the number of threats. Economic criminals will be the group that causes the most incidents in Europe in the next year, anticipated by 46% of those surveyed, up from 40% in the previous 12 months.
Belgium and Denmark are likely to be impacted more than any other country in Europe, according to 52% of respondents.
Stephane Verdoy, Regional CEO of G4S Europe, said: “More than ever before, security leaders will face multiple risks and threats that are caused by geopolitical tensions and economic pressures.
“Russia’s illegal invasion in Ukraine last year has sent shockwaves of disruption that are worrying security leaders. The expectation of rising economic unrest and disruption to energy supplies compared to the previous 12 months demonstrates this.
“With every Chief Security Officer’s top priority being the safety and security of their employees, customers, data and assets, it’s encouraging to see that four in 10 anticipate their security budgets will significantly increase.”
Ashley Almanza, executive chairman of G4S, Allied Universal’s international business,said: “Global businesses are facing increased security threats; a tight labour market globally; and rapidly changing technology that presents new risks and requires different skills. In addition, executive boards are grappling with balancing physical and cybersecurity alongside other priorities. The World Security Report helps our entire industry and the wider business community better understand and operate in the challenging, global and fast-moving security landscape.”
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