Exploring the Challenges of Financial Education Across Emerging Economies

Hope EwingDirector, APCEMEAVisa

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“We pledged to reach 20 million people globally with financial literacy resources by May 2013…

… I am pleased to report that nearly one year ahead of schedule we have fulfilled our Clinton Global Initiative commitment.”

Joseph W. Saunders

Chairman, Visa

25%

75%

31%

69%

Visa Financial Literacy Barometer25,500 participants in 28 markets

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68%32%

68% have less than 3 months’ worth of emergency savings

25% of high income respondents have less than 3 months of savings

25%

75%

31% do not follow a budget25% of parents do not talk to

their kids about money

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3.9 monthsthe average number of months of savings Chinese respondents have

41.7 daysa year that Mexican families talk to their children about money management

14.4 years oldthe age that Vietnamese feel children should start learning about financial literacy in schools

44 percentof American respondents say they don’t follow a budget at all

Rich vs PoorRespondents agree income is not indicative of financial wellbeing

ChildrenMiddle East respondents are most focused promoting financial literacy among the young

Mumbai

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Nairobi

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Dubai

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Key Points

• Financial education is vital to the long-term health of an economy

• Any program must take into consideration local financial habits, customs and values

• There is no single problem, which means there is no one single solution

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