Context: Recently, a study released by the International Labour Organization (ILO) in Geneva revealed that forced labor generates illegal profits worth $36 billion per year.
Highlights of Report
Significant Increase in Illegal Profits: Illegal profits from forced labor have surged by 37% since 2014, propelled by a rise in coerced labor and higher profits from victim exploitation.
Profit Dynamics and Geographic Distribution: The report reveals that traffickers are now generating close to $10,000 per victim, with Europe and Central Asia leading in annual illegal profits, followed by Asia and the Pacific, the Americas, Africa, and the Arab States.
Alarming Statistics: The report highlights that on any given day in 2021, 27.6 million people were subjected to forced labor, witnessing an increase of 2.7 million individuals between 2016 and 2021.
Profit Distribution by Sector: Forced commercial sexual exploitation constitutes 73% of total illegal profits, while industries like manufacturing and services follow closely, highlighting the diverse sectors contributing to this nefarious economy.
International Labour Organisation (ILO)
About: The International Labour Organization (ILO) is the United Nations agency for the world of work.
Mandate: Its mandate is to advance social and economic justice through setting international labour standards.
Motto: ILO’s mandate as the basis for peace is expressed today as Decent Work for all.
Headquarters: Geneva, Switzerland.
Parent organization: Economic and Social Council of the United Nations.
Members: The ILO has 187 member states: 186 out of 193 UN member states plus the Cook Islands.
Structure: It is the only tripartite U.N. agency that brings together governments, employers and workers’ representatives of 187-member States.