Study finds illiteracy drains $1 trillion every year

Discussion in 'Economy & Infrastructure' started by Vishwarupa, Apr 12, 2012.

  1. Vishwarupa

    Vishwarupa Senior Member Senior Member

    Sep 15, 2009
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    Illiteracy is not just a social issue, but economic too, a recent report by the World Literacy Foundation proved.

    The study, which was released at the World Literacy Summit, has estimated the economic drain resulting from the lack of reading and writing skills at an astounding $1.19 trillion a year.

    At about 800 million, more than one-fifth of the global population is not literate, while over 100 million children do not go to school every day.

    According to the report, The Economic and Social cost of Illiteracy, India suffers a loss of $53.56 billion every year, which comes right after China at $135 billion.

    Report author and World Literacy Trust Chief Executive Officer, Mr Andrew Kay, said, “The fact that over six million people in the UK are illiterate and many more struggle to read and write is shocking in 2012.”

    The study reveals that illiterate people earn 30-42 per cent less than their literate peers.

    “Whether you live in the developed or developing world, illiteracy is ruining lives and is linked with poverty, unemployment, social exclusion, crime and long term illness,” Mr Kay added.

    Business Line : Industry & Economy / Economy : Study finds illiteracy drains $1 trillion every year
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