Modern day slavery in the world yields a global profit of $150bn in revenues per year, a report of the United Nations International Labour Organisation has said.
Women and girls contribute to more than half of the illegal profit victims of commercial sexual exploitation while the rest from forced economic exploitation.
The statistics were published in the latest report of the International Labour Organisation titled “Profits and Poverty: The Economics of Forced Labour” published on Tuesday.
“More than a third of the profits - $51.2b – are made in forced labour exploitation, including nearly $8bn generated from domestic work under low or no wages.”
Profit rates are highest in Asia - $51.8bn – and developed economies including the European Union.
The data published based on information of 2012 says that there are 21 million people throughout the globe employed in modern day slavery, trafficking and forced labour.
Poverty and income shocks push individuals to forced labour, the report said. Other factors include lack of education, illiteracy, gender and migration.
“This report is significant because it takes our understanding of trafficking, forced labour and slavery to a new level,” ILO Director General Guy Ryder said.
ILO Special Action Programme to Combat Forced Labour head Beate Andrees called for greater government intervention and socio-economic development for a change.
The ILO report has been attached to this report for your viewing pleasure.
