Estudio de Credicorp revela alta inclusión financiera en trabajadores informales de Bolivia

In a recent study conducted by Credicorp, a leading financial services holding company in Bolivia through Banco de Crédito de Bolivia BCP, the link between informality and financial inclusion in Latin America was explored. The findings revealed some interesting insights, particularly in the context of Bolivia.

According to the study, Bolivia has the highest percentage (17%) of informal workers who have a credit specifically aimed at a business, compared to other countries in the region. Additionally, Bolivia ranks second in the region with the highest proportion (39%) of informal workers who have some form of credit product. This includes 8% with a credit card, 15% with personal loans, and 4% with vehicle loans.

It is worth noting that informal workers make up 69% of Bolivia’s workforce, highlighting the importance of discussing the opportunities that the financial system can offer them. Christian Hausherr, Manager of Finance and Capital Markets Division at BCP Bolivia, emphasized the significance of greater financial inclusion for this majority group, which can lead to improved financing and better working conditions.

The study also revealed that 10% of informal workers in Bolivia have achieved an advanced level of financial inclusion, compared to 35% of formal workers. This disparity underscores the need to address the financial needs of informal workers in order to bridge the gap.

Additional findings in Bolivia showed that 44% of informal workers do not have any financial savings products, and only 23% receive their income through bank transfers or mobile wallets, the lowest figure in the region. In comparison, 50% of formal workers receive their income through these channels.

The study also highlighted key findings in Latin America, showing that formal workers are more likely to have achieved financial inclusion compared to informal workers. However, informal workers demonstrate a higher proportion of credit products aimed at businesses, indicating potential opportunities for growth and development.

Overall, the study underscores the importance of financial inclusion for informal workers in Bolivia and across Latin America. By addressing the specific needs of this group, financial institutions and policymakers can help promote economic growth and stability. To access the full study, visit https://grupocredicorp.com/indice-inclusion-financiera/IIF/INCLUSION-FINANCIERA-E-INFORMALIDAD-2023.pdf.