The U.S. is the second most financially inclusive market, according to the 2022 Global Financial Inclusion Index (Index) – driven largely by the financial system and employers’ support of individuals. However, a new U.S.-focused analysis of the Index, sponsored by Principal Financial Group® and conducted by the Centre for Economics and Business Research (Cebr), reveals an opportunity for employers to provide greater financial inclusion and support for their employees.
The Index ranks 42 global markets on three pillars of financial inclusion – government, financial system, and employer support – using data across public and survey-based sources. The analysis ranked the U.S. first out of the 42 markets in the financial system pillar and second within the employer support pillar, driven largely by its enablement of small and medium enterprise (SME) growth and success.