The multipolar world of present day, with one dominant state and a couple of contender states, is comprised of small, mid-size and large states. Small states comprise between half and two-thirds of the world's states depending on the criteria used for classification. However, their influence is diametrically opposite to their number. The contemporary transnational developments have changed the role and position of small states, giving them new opportunities for international action, albeit concurrently making them more vulnerable to external economic and environmental influences, such as overexposure to one economic activity and the consequences of the climate change. Small states, despite their relatively small importance for the transnational developments, deserve the attention of scholars and the general public, as well as the civil society. Large states could learn from successful small states and be more concerned for the fate of small states. The difficulties of small vulnerable states are predictors of the world's vulnerability.