Mexicans feel vulnerable and are concerned about the economy
CEO AXA Mexico
Each year, AXA publishes its Future Risk Report. It is based on near 19,000 interviews, 7,000 of those conducted in Europe and 1,000 in Mexico. Furthermore, AXA consulted 2,700 risk experts from 54 countries.
This year’s edition was expected impatiently, after all, the survey was conducted during the Covid-19 epidemic in July 2020. Not surprisingly, pandemic and infectious diseases are considered as the most important risk to society. In 2019, these ranked 8th. The second and third most important risks perceived are climate change and cyber, respectively.
The risk perception in Mexico is different to other countries. In a nutshell: Mexicans feel more exposed to emerging risks than most countries and are more concerned by the macroeconomic risk. This does not surprise much: Covid-19 has hit our country heavily, both in terms of number of infected people as of casualties. Almost everyone knows someone who has died as a result of Covid-19 related complications. And Mexico having already been in a recession before the pandemic, the economic outlook looks all but rosy.
On the other hand, climate change is not as much of a concern for Mexicans as for Europeans. That outcome is worrying, more so as Mexico is heavily exposed to natural catastrophes. According to the World Bank, 15% of Mexican territory, 68% of the population and 71% of GDP are highly exposed to the impacts of natural hazards such as hurricanes, other storms, droughts, floods, earthquakes, and volcanic eruptions. Yet protecting the environment is not high on the government’s agenda.
At AXA Mexico, we will continue to make our contribution to fight and mitigate all sorts of risks, current and future. On one hand assessing and insuring them, on the other hand through Fundación AXA Mexico, our charity, by helping Mexicans with no means to purchase an insurance.