Africa and the Middle East will be the most risky regions for business in 2010, while some Asian and South Pacific nations are expected to become increasingly comfortable for risk- averse Australian businesses.

A suite of recently released global risk maps unanimously label unstable African nations in cluding Somalia, the Democratic Republic of Congo and Zimbabwe as the world’s most risky countries. Likewise, the war-torn Middle East fea tured heavily, with Iraq and current “pariah” state Iran considered high risk.

Risk ratings from Aon Risk Services upgrad ed Sudan, Venezuela and Yemen to its highest risk category in 2010, a grading that continues to in clude war-ravaged Afghanistan. Meanwhile Maple croft’s new ratings put 24 countries in its extreme risk category, 17 of which are in Africa, though Bangladesh and Pakistan are also included.

Based on higher volumes of credit and polit ical risk claims in international insurance markets, Aon saw fit to downgrade 18 countries in 2010, and upgraded only nine, indicating the worst of the crisis is not over.

Closer to home, the insurance house con sidered East Timor, Vietnam, Hong Kong, Van uatu and Burma less risky than in 2009, with the one blot on the Asia-Pacific Region stage continuing to be the reclusive North Korea.

Several of the highest risk countries, includ ing DR Congo, Nigeria, Iraq and Pakistan, are owners of huge oil, gas and mineral reserves, threatening the supply chains of western and BRIC (Brazil, Russia, India and China) companies alike. Maplecroft says high-risk Asia-Pacific Region ju risdictions critical to supply chains include the Philippines, Indonesia, and India.

Water and food insecurity featured heavily in this year’s rankings. An Aon statement said the combination of changing climates and weather patterns, demand for bio-fuels, increased de mand for food and water and lean financial times are combining to raise the profile of these risks to stability.

The countries rated least at risk in Maple croft’s global risks index were predominantly Scandinavian, with Norway, Iceland, Finland, Sweden, and Denmark setting the standard for the rest of Europe.