Forced labour profits hit £191 billion globally, ILO report finds
Over the last decade, the global profit from forced labour has surged to £191 billion annually, according to a report published on Tuesday by the International Labour Organization. This represents a 37 percent increase compared to ten years ago, with the practice particularly prevailing in Asia.
19 March 2024 19:33
The International Labour Organization reveals that around 27.6 million people worldwide are compelled to work, based on data from 2021 - the latest information available to experts.
The ILO estimates that the number of forced labourers has risen by 10 percent over five years, with more than half of them located in the Asia-Pacific region. The organization notes that forced labour can include slavery, serfdom, and various forms of organized begging. Each victim annually generates approximately £8,100 in profit for criminals. A decade ago, this figure was around £6,500.
About 6.3 million victims of forced labour are pressured into working in the sex services industry. This group accounts for as much as three-fourths of the profits - about £140 billion a year. Around 80 percent of this group of forced labourers are women, and over 25 percent are children.
An EU ban is getting closer
At the start of March, negotiators from the EU Council and the European Parliament reached a preliminary agreement on prohibiting the entry into the European single market of products made using forced labour.
- It is shocking that in the 21st century, slavery and forced labour still exist globally. This heinous crime must be eradicated, and the first step towards achieving this goal is to dismantle the business models of companies exploiting workers. With this regulation, we aim to ensure there is no room in our single market for their products, whether manufactured in Europe or elsewhere,- declared Belgian Minister of Economy and Employment Pierre-Yves Dermagne, whose country is presiding over the EU Council for six months.
To aid the implementation of this regulation, the EP and the Council have tasked the European Commission with creating a database filled with verifiable, regularly updated information on risks associated with forced labour, including reports from international organizations. This database is designed to assist the Commission and the relevant national authorities in assessing potential breaches of the regulation.
Bans will be applied to goods produced outside the EU using forced labour, as well as products made within the EU from components sourced abroad through forced labour.
The agreement still awaits formal approval by the European Parliament and the EU Council.
