The Global Financial Inclusion Index 2022 report
The Global Financial Inclusion Index and its analysis uncovers key drivers shaping financial inclusion across governments, financial systems, and employers in 42 markets.
Market snapshots
- Singapore (PDF)
- Hong Kong (PDF)
- United States (PDF)
- Malaysia (PDF)
- Thailand (PDF)
- United Kingdom (PDF)
- Europe (PDF)
- Nordic Region (PDF)More details can be found in footnotes on the bottom of the page
- Latin America (PDF)
Sector indices
The overall Global Financial Inclusion Index is accompanied by two sector rankings, tracking how employer support of financial inclusion shows up across different sectors in surveyed markets. These sectors are: 1) services industries, and 2) production and construction industries, with the latter being combined to accommodate for sample sizes.
The employer support pillar scores are derived from survey data based on polling businesses in each market (management-level employees). The services and production and construction indices target a respondent base of 50 businesses per market, but due to the nature of each discrete economy, this was not possible in all cases. We included all economies with survey sample sizes of more than 20 businesses to allow for the least attrition and robust comparisons on a global scale. Markets with sample sizes of less than 30 (**)2 and between 30 (inclusive) and 50 (*)3 are flagged.
The services index tracks the state of employer support in the services sector across the 42 markets analyzed, using the same indicators as the employer support pillar in the overall Index.
Services Index
| Rank | Market | Provision of guidance and support around financial issues | Employee pension contributions | Employer insurance schemes | Employer pay initiatives | Overall score |
|---|---|---|---|---|---|---|
| 1 | Vietnam | 88.22 | 70.51 | 88.46 | 98.52 | 83.24 |
| 2 | United States | 85.10 | 86.20 | 67.52 | 75.11 | 80.02 |
| 3 | India | 93.33 | 77.10 | 69.07 | 75.92 | 78.50 |
| 4 | Saudi Arabia | 93.39 | 62.49 | 71.58 | 79.79 | 73.95 |
| 5 | Malaysia | 90.50 | 62.02 | 71.15 | 80.95 | 73.33 |
| 6 | Thailand | 90.43 | 56.58 | 79.92 | 79.21 | 72.54 |
| 7 | Hong Kong | 72.20 | 61.59 | 75.45 | 75.96 | 69.36 |
| 8 | China | 82.73 | 80.63 | 53.08 | 48.52 | 69.12 |
| 9 | United Arab Emirates | 85.52 | 54.75 | 72.04 | 65.87 | 66.59 |
| 10 | Turkey | 72.82 | 60.36 | 69.51 | 63.07 | 65.23 |
| 11 | Indonesia | 81.67 | 46.21 | 66.57 | 73.02 | 62.73 |
| 12 | Taiwan | 77.73 | 47.24 | 73.31 | 67.90 | 62.68 |
| 13 | Norway* | 76.06 | 65.63 | 55.95 | 48.10 | 62.27 |
| 14 | Finland | 74.06 | 55.56 | 62.69 | 53.46 | 60.27 |
| 15 | Switzerland | 63.88 | 57.31 | 64.87 | 49.76 | 58.63 |
| 16 | Poland | 71.28 | 41.33 | 71.99 | 66.68 | 58.52 |
| 17 | Peru | 63.45 | 61.63 | 42.53 | 57.56 | 57.36 |
| 18 | Denmark | 83.50 | 39.14 | 63.15 | 57.37 | 56.46 |
| 19 | Nigeria | 78.14 | 45.14 | 48.48 | 65.03 | 56.38 |
| 20 | Brazil | 66.10 | 48.93 | 57.96 | 56.06 | 55.60 |
| 21 | Singapore | 56.93 | 64.56 | 47.70 | 43.62 | 55.47 |
| 22 | Sweden | 62.63 | 49.46 | 56.85 | 40.47 | 51.77 |
| 23 | Chile** | 48.79 | 52.68 | 52.71 | 42.44 | 49.86 |
| 24 | Israel | 57.81 | 39.56 | 53.14 | 58.46 | 49.71 |
| 25 | Italy | 61.52 | 40.39 | 47.96 | 48.36 | 47.72 |
| 26 | Netherlands | 54.38 | 44.44 | 50.75 | 40.77 | 46.96 |
| 27 | Colombia | 42.79 | 28.76 | 40.77 | 69.13 | 42.04 |
| 28 | Argentina | 27.81 | 44.73 | 50.55 | 41.77 | 41.92 |
| 29 | Mexico | 42.53 | 32.91 | 43.55 | 54.71 | 41.32 |
| 30 | France | 44.19 | 36.31 | 48.13 | 39.73 | 40.94 |
| 31 | Kenya | 63.58 | 20.79 | 32.99 | 65.91 | 40.81 |
| 32 | Germany | 35.74 | 45.83 | 33.00 | 37.88 | 39.65 |
| 33 | Canada | 7.26 | 42.26 | 48.29 | 47.55 | 37.53 |
| 34 | Spain | 36.60 | 28.53 | 51.94 | 39.68 | 37.06 |
| 35 | Ghana* | 36.36 | 34.43 | 30.43 | 49.59 | 37.05 |
| 36 | Australia | 21.14 | 54.18 | 28.11 | 18.57 | 35.24 |
| 37 | South Africa | 46.04 | 17.03 | 45.56 | 46.73 | 34.48 |
| 38 | Ireland | 23.50 | 31.78 | 26.41 | 16.22 | 25.94 |
| 39 | New Zealand | 24.79 | 30.81 | 16.34 | 20.81 | 24.71 |
| 40 | United Kingdom | 0.00 | 46.23 | 4.64 | 17.14 | 22.85 |
| 41 | South Korea | 2.94 | 24.82 | 27.09 | 13.42 | 18.62 |
| 42 | Japan | 10.13 | 21.05 | 20.39 | 20.30 | 18.58 |
The production and construction rankings track the state of employer support in the production and construction sectors across all listed economies,* using the same indicators as the employer support pillar in the overall Index. As noted, we combined the two sectors to account for smaller sample sizes.
Production and Construction Index
| Rank | Market | Provision of guidance and support around financial issues | Employee pension Contributions | Employer insurance schemes | Employer pay initiatives | Overall score |
|---|---|---|---|---|---|---|
| 1 | Vietnam | 93.77 | 84.48 | 82.20 | 94.24 | 87.83 |
| 2 | India* | 98.04 | 82.32 | 77.73 | 77.32 | 83.55 |
| 3 | United States | 80.12 | 78.81 | 84.04 | 74.34 | 79.22 |
| 4 | Singapore | 67.62 | 79.90 | 63.81 | 51.65 | 68.58 |
| 5 | Malaysia* | 68.60 | 64.12 | 78.28 | 66.79 | 68.38 |
| 6 | Finland* | 78.75 | 64.40 | 78.17 | 51.45 | 67.43 |
| 7 | China | 82.38 | 77.87 | 52.78 | 45.78 | 67.34 |
| 8 | Peru* | 74.53 | 68.71 | 57.28 | 66.34 | 67.11 |
| 9 | Turkey | 75.79 | 63.83 | 68.78 | 55.07 | 65.46 |
| 10 | Thailand | 87.37 | 45.50 | 78.72 | 61.55 | 63.73 |
| 11 | Israel* | 77.60 | 52.42 | 68.86 | 65.13 | 63.29 |
| 12 | Saudi Arabia* | 84.68 | 56.21 | 49.72 | 68.15 | 62.99 |
| 13 | Nigeria* | 76.64 | 56.41 | 56.32 | 60.98 | 61.35 |
| 14 | Indonesia** | 86.77 | 45.72 | 63.13 | 64.67 | 61.20 |
| 15 | Australia | 52.85 | 64.23 | 59.57 | 60.22 | 60.22 |
| 16 | Denmark* | 77.71 | 56.62 | 52.77 | 56.37 | 60.02 |
| 17 | Poland | 63.10 | 44.46 | 68.28 | 65.35 | 57.13 |
| 18 | Switzerland** | 30.18 | 75.92 | 61.27 | 38.66 | 56.39 |
| 19 | United Arab Emirates* | 66.45 | 48.28 | 56.16 | 60.66 | 55.96 |
| 20 | Mexico | 54.05 | 57.28 | 48.05 | 56.46 | 54.62 |
| 21 | Argentina | 43.00 | 49.25 | 63.51 | 58.96 | 52.79 |
| 22 | Brazil* | 55.70 | 45.25 | 50.97 | 66.52 | 52.74 |
| 23 | Netherlands* | 67.63 | 43.34 | 50.85 | 39.63 | 48.96 |
| 24 | Sweden* | 45.04 | 44.56 | 64.72 | 41.71 | 48.12 |
| 25 | Germany** | 48.50 | 49.29 | 33.64 | 32.95 | 42.74 |
| 26 | France | 32.26 | 47.16 | 34.72 | 48.79 | 42.02 |
| 27 | South Africa | 39.37 | 37.05 | 41.32 | 55.25 | 42.01 |
| 28 | Spain | 35.66 | 43.50 | 41.69 | 43.48 | 41.57 |
| 29 | Colombia | 40.83 | 30.40 | 37.10 | 68.08 | 41.36 |
| 30 | Kenya | 62.88 | 20.42 | 36.48 | 61.88 | 40.42 |
| 31 | Italy* | 34.46 | 37.13 | 33.08 | 44.23 | 37.21 |
| 32 | Ireland* | 25.77 | 41.55 | 29.35 | 11.35 | 29.91 |
| 33 | Canada | 21.55 | 26.92 | 51.53 | 22.55 | 29.89 |
| 34 | United Kingdom | 16.89 | 44.12 | 15.65 | 17.81 | 27.72 |
| 35 | South Korea | 14.46 | 39.39 | 22.30 | 17.88 | 26.69 |
| 36 | Japan | 7.71 | 19.33 | 26.57 | 20.70 | 18.73 |
| 37 | New Zealand | 4.73 | 26.09 | 7.54 | 4.57 | 13.81 |
* For this Index in particular, five markets that featured in the overall Index are absent (Chile, Norway, Hong Kong, Taiwan, and Ghana), indicating that that the sample sizes for the respective markets were less than 20. There are also 17 markets with sample sizes between 20 and 50, and these have been flagged accordingly.
Global insights
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1 Sweden, Finland, Denmark, Norway
2 20 ≤ n < 30, where n is sample size
3 30 ≤ n < 50, where n is sample size
The Global Financial Inclusion Index is a proprietary model output based upon certain assumptions that may change, are not guaranteed, and should not be relied upon as a significant basis for an investment decision.
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