Geopolitical tensions weigh on global companies

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Russia's invasion of Ukraine changed the way companies approach support for local nationals.

Companies are not only worried about being able to operate during crises, but also about employee safety as remote work and flexibility create a greater number of potentially dangerous scenarios.Travel companies including Delta, Royal Caribbean and IHG Hotels & Resorts have temporarily canceled Tel Aviv flights, adjusted routes or increased their security measures following the surprise

UPS had temporarily suspended flights in and out of Israel, while FedEx said it was resuming service today in consultation with local authorities and only where "Geopolitical tensions were flagged as the top risk to the global economy over the next two years in a survey of businesses from Separately, 48% of about 4,500 risk experts across 58 countries cited geopolitical instability as their top risk last year, up from 31% in 2018, according to anAt a recent industry convention, "we had more companies than we've ever had come and speak to us, were seeing a similar increase," Tyler Hosford, regional security manager for International SOS, a medical and security assistance firm, tells Axios.

"A lot of companies going forward will probably look at as a place where need to have food, water medical supplies stocked or contracted," he adds."Traditionally, the idea of evacuating local national employees was a non-starter because by definition, you're potentially creating a refugee situation.

 

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