Digital payments and the global informal economy
More than 23 percent of the world's economy is conducted out of sight of governments, totaling more than US$10.7 trillion of unreported economic output annually. This study, conducted by A.T. Kearney and Professor Friedrich Schneider at the Johannes Kepler University of Linz, Austria, is designed for policy makers around the world who are tackling the fiscal and social challenges that arise from widespread informal activity. Read how digital payments can help reduce the size of the informal economy while boosting GDP and tax revenue.
Digitizing the informal economy: Infographic
The informal economy is legal, cash-dependent, income-generating activities conducted “off-the-books.” This could be a rickshaw in Kolkata or a vendor selling street tacos in Mexico City to unreported wages for an au pair in Dublin or a seasonal farm worker in California. Click here to learn what makes up the informal economy.
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Digital Payments and the Global Informal Economy
The study, Digital Payments and the Global Informal Economy, explores more than 700 measures and analyzes 60 countries to document how digital payments can reduce the size of the informal economy. Explore the complete findings, including how increasing the use of digital payments can add over US$1.5 trillion in GDP to the world's economy by 2021.
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