Sofia – Businesses in Bulgaria are increasingly concerned about the growing threat of cyberattacks, marking the first time the issue has entered the top 10 business risks in the country, according to the latest Allianz Risk Barometer for 2025.
The annual survey, conducted by Allianz Commercial, gathered insights from 3,778 risk management professionals across 106 countries, providing a comprehensive overview of global and regional business challenges.
Globally, cyber incidents, including data breaches and ransomware attacks, remain the most significant risk to businesses, followed by business disruptions and natural disasters.
The report highlights the increasing complexity of cyber threats, with high-profile incidents such as the CrowdStrike IT disruption further raising alarm among businesses worldwide.
Other growing concerns on the international stage include geopolitical tensions, legal and regulatory changes, and trade wars, which collectively rank as the fourth biggest risk. Meanwhile, climate change has reached its highest ranking to date, placing fifth globally.
In Bulgaria, market developments and the macroeconomic environment continue to dominate business concerns, with 42% and 38% of respondents citing them as their top risks, respectively.
These two risks have switched positions compared to the 2024 survey but remain the primary focus of businesses. Legal and regulatory changes have climbed in importance, rising from sixth place to third, as 31% of respondents now consider them a major threat.
Another shift in risk perception is evident in the ranking of skilled labor shortages. Previously the third biggest concern for Bulgarian businesses, it has now dropped to fourth place, with 27% of respondents citing it as a key challenge.
Meanwhile, cyberattacks have emerged as a significant concern, debuting at 10th place with 12% of businesses recognizing them as a major threat.
Climate change has also made its first appearance in Bulgaria’s top 10 business risks, ranking seventh with 19% of respondents acknowledging its impact.
Other notable risks for Bulgarian businesses include energy crises and natural disasters, both cited by 23% of participants in the survey.
The findings indicate a shift in business priorities, with Bulgarian companies increasingly aligning with global trends in risk perception.
The Allianz study reveals that smaller businesses tend to focus on immediate concerns such as regulatory compliance and workforce shortages, while larger corporations are more preoccupied with systemic risks like political instability and climate change.
This trend is becoming increasingly apparent in Bulgaria as businesses of all sizes adapt to an evolving risk landscape.
As cyber threats continue to escalate worldwide, Bulgarian companies may need to prioritize cybersecurity measures and enhance their resilience against potential attacks.
Experts suggest that businesses invest in stronger IT infrastructure, implement regular security audits, and educate employees on cybersecurity best practices to mitigate the risks associated with cyber incidents.
With businesses facing an increasingly complex and interconnected risk environment, the need for proactive risk management strategies has never been greater.
The 2025 Allianz Risk Barometer underscores the importance of preparedness, urging Bulgarian companies to remain vigilant against emerging threats while adapting to global risk trends.
This article was created using automation technology and was thoroughly edited and fact-checked by one of our editorial staff members