Financial Inclusion in Asia Outpaces Global Average
From Jakarta’s street stalls to Seoul’s subway turnstiles, Asia now vaults ahead of every other region in financial inclusion, as surging mobile-wallet and micro-credit adoption puts basic banking in billions of pockets.
According to analysts at UnaFinancial, financial inclusion across Asia is expected to reach 80.2 percent by 2030, surpassing the projected global average of 76,8 percent. This growth positions the region as a global leader in financial accessibility.
The analysts have developed an index of financial accessibility in Asia and made a forecast based on the available historical data. The index incorporates factors such as financial institution account ownership, digital payments usage, debit and credit card ownership, and borrowing and saving experience. For the final estimate, each parameter was weighted based on its impact on access to finance.
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According to the calculations, the level of financial inclusion in Asia could reach 69.5 percent in 2024, up from 67.2 percent in 2023. Over the past 15 years, this figure grew by 82 percent. Compared to the global average of 67.4 percent, Asian countries have overtaken it, positioning the region as a leader in financial accessibility.
The analysts note that Asia is expected to be more active in adopting technology solutions to improve financial inclusion between 2025 and 2030. They estimate that by 2030, the financial accessibility in the region could reach 80.2 percent, compared to 76.8 percent globally.
UnaFinancial is a group of companies developing easy-to-use digital financial solutions across Asia and Europe.
