Companies across the globe face many risks, but business leaders in different regions measure the severity of these threats differently, according to a new report.

A new report by the World Economic Forum reveals what executives across the globe consider to be the greatest risks to business, and the results showed a wide range of concerns.

Around the globe, on average, executives think fiscal crises are the top risk, the report said.

"The signals of a global economic recession in the short term are strong, and the impact that such a shock would have on current government policies is worrying the global business community," the report said. "It is also a major cause for concern that stakeholders worldwide might not be able to come together, if coordination has not begun already, to craft a global response to such a risk."

Other concerns vary by region. In the oil-rich Middle East and North Africa, for example, "energy price shock" is the biggest worry. In South Asia, they worry more about potential water crises. And in Latin America and the Caribbean, business leaders cite the "failure of national governance" as the top risk.

The report, based on the forum's annual Executive Opinion Survey, relied on 12,879 responses collected from business leaders around the world from January to April.

The following are the top 10 risks cited by North American business leaders:

10. Natural Disasters

Businesses in North America are more concerned about natural disasters than global businesses in general. In Europe and Eurasia, for example, this risk didn't make the top 10. It was, however, the number one risk cited by businesses in East Asia and the Pacific.