DES MOINES, Iowa — Singapore is the world’s most financially inclusive market across 42 analyzed, alongside Hong Kong, Switzerland, the United States, and Sweden, according to the second edition of the Global Financial Inclusion Index (the Index) from Principal Financial Group®.
The research released today, conducted by the Centre for Economics and Business Research (Cebr) and Principal®, examines how well a market’s respective government, financial system, and employers provide relevant tools, services, and guidance to enable greater levels of financial inclusion. Now in its second year, the report provides a comprehensive and comparative evaluation of financial inclusion on a global scale – ranking 42 markets on a relative basis in addition to a new absolute score assigned at the global and regional levels. This enables the identification and analysis of regions making the most progress and those facing the greatest challenges.
“Despite the uncertain economic conditions of the past year, it’s encouraging to see that global financial inclusion continues to improve,” said Dan Houston, chairman, president, and CEO of Principal. “We’re optimistic about the ongoing progress governments, financial systems, and employers are making across the globe to help more people gain access to the support they need to feel more financially secure.”
Cebr is an independent London-based economic consultancy specialising in economic impact assessment, macroeconomic forecasting and thought leadership. For more information on this report, or if you are interested in commissioning research with Cebr, please contact us using our enquiries page.