Findings from the S&P Global Financial Literacy Survey

Standard & Poor's Rating Service World Financial Literacy Survey is the world's largest and most comprehensive measure of global financial knowledge. We explore knowledge of the four basic financial concepts: risk diversification, inflation, calculation, and benefit complex.

The survey is based on an interview with more than 150,000 adults in over 140 countries. In 2014, McGraw Hill Financial implemented S & P Global FinLit Survey in cooperation with Gallup, the World Bank Development Research Group, and GFLEC.

Let's learn how GFLEC globally promoted the Standard & Poor's Global FinLit survey. Please contact us if you would like to submit a Standard & Poor's Global FinLit questionnaire at the event.

The purpose of this survey is to measure global financial knowledge most accurately. It is also intended to provide information to policy-makers, regulators, the private sector and academia to develop effective financial education policies and programs.

Financial illiteracy is an important obstacle to financial subsidies. Because of lack of understanding of financial and financial products, many people do not have access to banking and financial services and therefore can not access financial markets. Therefore, financial knowledge is very important for people's economic well-being and the health of the national economy as a whole.

According to the World Bank, Gallup and George Washington University conduct the detailed and comprehensive S & P world economic survey of global economic knowledge first, and have only one-third of the world's population of financial knowledge. By country, Norway, Denmark and Sweden are ranked first, with 71% of the population financially ranked. At the bottom is Yemen - only 13% of the population of Yemen is considered financially knowledgeable by Standard & Poor's survey

From a national perspective, economic knowledge of the low income group and the economically disadvantaged group is important to achieve the last mile of financial subsidies. According to a global survey by Standard & Poor's Financial Services LLC (Standard & Poor's), in South Asian countries, less than 25% of adults have financial knowledge. For ordinary Indians, financial knowledge is not a priority yet. The population of India is 17.5% of the world, but nearly 76% of adults do not even understand basic financial concepts. Most people tend to invest more in physical assets and short-term tools. This is both to achieve the family life stage goals and to meet the country's capital requirements for infrastructure.

According to Standard & Poor's World Financial Knowledge Survey, the United States was ranked 14th in the survey of adults in 143 countries conducted by George Washington University World Financial Literacy Excellence Center and World Bank Development Research Group. Most of them are low development economies. Among the developed countries, America is behind countries like Denmark, Canada, Germany, UK, Australia, New Zealand. This survey reflects the results of the International Student Evaluation Program last year and showed that the average 15-year-old US population is in the middle of developed countries in 18 countries. According to the study of Standard & Poor's, many poor youth have more affordable adults.