Amid rising tensions between Iran and the US, millennials around the world are worried now more than ever that we're on the brink of World War III, according to alarming new data published by the International Red Cross.

Key points: A global report interviewed 16,000 millennials aged between 20 and 35 from 16 countries

A global report interviewed 16,000 millennials aged between 20 and 35 from 16 countries More than half believe that nuclear weapons are likely to be used in the next 10 years

More than half believe that nuclear weapons are likely to be used in the next 10 years Australians think the most important issues faced by the world are war and climate change

Millennials consider war and armed conflict to be among the top five most important issues affecting people around the world today.

A shocking 47 per cent believe World War III is likely in their lifetime, and two in five millennials from non-conflict countries believe it's very likely that they will be affected by war or armed conflict in the future, according to an International Committee of Red Cross (ICRC) report.

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The global report interviewed 16,000 millennials aged between 20 and 35 from 16 countries and territories at peace and at war around the world.

The data overwhelmingly showed millennials were nervous about their futures, with more than half believing that nuclear weapons are likely to be used somewhere in the world within the next decade.

It also revealed that 84 per cent completely disagreed with the use of nuclear weapons, but more than half of them, 54 per cent, thought an attack would occur in the next 10 years.

"Our global survey reveals that millennials are nervous about their future and see cataclysmic war as a real likelihood in their lifetime," ICRC director-general Yves Daccord said.

"It is very concerning that almost half of all millennials think it’s more likely than not that there will be a third world war in their lifetime," he said.

Three out of four millennials believe war is avoidable

With the world in such disarray, it came to no surprise to Mr Daccord that millennials living in countries at war had hope for a brighter future and were willing to stand up for humanity, with 74 per cent believing most wars could be avoided.

"Millennials and youth are fighters in current and future conflicts. The future is in their hands," Mr Daccord said.

However, millennials in countries currently active in conflict such as Ukraine, Syria, Palestine, Israel, Nigeria, Colombia and Afghanistan, had all agreed there would be another world war soon.

In particular, residents of Israel and Palestine believed they would never see an end to conflict in the region, with a whopping 65 per cent of respondents believing the violence to "never end".

Researcher Muhammaad Al-Sayyed, 27, lived in Lebanon, which borders Syria and Palestine, for 16 years.

While he's now moved to the US, he still doesn't believe the Middle East will ever see calm.

"Geopolitically the Middle East is under the eyes of all the super powers and those super powers will always use their proxy wars to fight on our land," he said.

He believes World War III will happened in his life time, and those fears only increased when tensions between Iran and the US intensified.

"I estimate [World War III] occurring within the next 10-20 years. I give it 20 years, max," he said.

More than half believe a nuclear attack is on the cards

A staggering 54 per cent of millennials in the report believed it was likely that a nuclear attack would occur in the next decade.

Malaysia, had the highest share of people who believed that a nuclear attack would occur in the next decade, while Syria had the highest share of people who said such an attack was unlikely.

In general, millennials overwhelmingly opposed the use of nuclear weapons and weapons of mass destruction under any circumstance, with Syrians showing the greatest level of intolerance for such weapons.

Eighty-four per cent of millennials believed that nuclear weapons would never be acceptable in wars and armed conflicts.

Mobeen Jafar Mir is a journalist for the Daily Times in Pakistan. ( Supplied: Mobeen )

Overall, across the 16 countries and territories surveyed, three in five millennials agreed that countries with nuclear weapons should eliminate them and countries that did not have nuclear weapons should not develop or obtain them.

Researcher, Mobeen Jafar Mir, 26, lives in Pakistan — a country that has seen on-going conflicts of its own.

The recent US airstrikes that killed Iranian General Qassem Soleimani led him to believe that a war between the Gulf, Iran and the US was probable.

"The US did not take its Gulf allies in its confidence before carrying out an airstrike on the Iranian general. It has definitely widened the chasm of mistrust between the Gulf states and US," he said.

Australians mostly worried about war and climate change

The report reveals Australians of all ages think the most important issues faced by the world are war and climate change; more critical than unemployment, healthcare and terrorism.

An overwhelming number of Australians surveyed also said that there was a need to impose limits on the way wars were fought.

Australian Red Cross head of international humanitarian law Yvette Zegenhagen said it was refreshing to learn more than three in five Australians believed that the laws of war, underpinned by the Geneva Conventions, reduce suffering in armed conflicts.

"The global results show that the majority of millennials think that the Geneva Conventions reduce suffering in war. Our survey results also confirm that Australians demonstrate even greater commitment to these values, with three out of five millennials believing that the laws of war make a difference and reduce suffering," she said.

However, she said it was alarming to find that more Australians believed it is acceptable to torture enemy soldiers than what was discovered years ago.

Lauren worries a war could happen given rising tensions with world leaders. ( Supplied: Lauren Pap )

Lauren Pap, 28, from Victoria said she believed World War III would definitely happen in her lifetime.

"I think it will happen. At the moment the wrong type of people are in power and they are making decisions that affect the country and its people. Tensions between certain nations are already high and all it could take is one wrong move and we will be at war," she said.

But like 74 per cent of millennials around the world, she believed those future conflicts were avoidable.

"It's like no matter what the war is, if it's current or in the future, the citizens and defence forces are the ones that end up suffering," she said.

Overall, Swiss and British millennials surveyed were the most optimistic, with 76 per cent and 60 per cent, respectively, considering it unlikely that they would be directly affected by war or an armed conflict in the future.

However, people in war-affected countries/territories were more likely to believe there would be fewer or no wars over the next 50 years, compared with respondents from countries at peace.