Private economy generates a staggering US$236 billion in illegal profits annually. This illicit trade in human misery has seen a dramatic rise, with profits soaring by US$64 billion (37%) since 2014, driven by an increase in both the number of victims and the exploitation of their labour, according to a new report from the International Labour Organization (ILO).
Titled ” Profits and Poverty: The economics of forced labour ,” the ILO report paints a grim picture of modern-day slavery, estimating that traffickers and criminals rake in close to US$10,000 per victim. The highest annual illegal profits from forced labour are reported in Europe and Central Asia, followed by Asia and the Pacific, the Americas, Africa, and the Arab States.
COMMERCIAL SEXUAL EXPLOITATION: A LUCRATIVE TRADE
Forced commercial sexual exploitation emerges as the most profitable sector, accounting for over two-thirds of total illegal profits. Despite representing only 27% of victims, this sector generates staggering profits, highlighting the stark disparity in per-victim earnings compared to other forms of forced labour exploitation.
INDUSTRIES FUELLING EXPLOITATION
Beyond sexual exploitation, industries such as industry, services, agriculture, and domestic work contribute significantly to the illegal profits from forced labour. These profits, which rightfully belong to workers, are withheld through coercive practices, perpetuating cycles of poverty and exploitation.
ESCALATING HUMAN TRAGEDY
The report unveils the harrowing reality of forced labour, with 27.6 million individuals engaged in such practices on any given day in 2021. This figure represents a concerning increase of 2.7 million victims between 2016 and 2021, underscoring the urgency of addressing this human tragedy.
CALL TO ACTION: URGENT MEASURES NEEDED
Gilbert F. Houngbo, Director-General of the ILO, emphasizes the critical need for immediate action to end this injustice and safeguard workers’ rights. Urgent measures include investment in enforcement, strengthening legal frameworks, enhancing training for enforcement officials, and better coordination between labour and criminal law enforcement.
COMPREHENSIVE APPROACH FOR LASTING CHANGE
While law enforcement plays a crucial role, the report underscores the importance of a comprehensive approach that addresses root causes and prioritizes victim protection. Ending forced labour demands concerted efforts to uphold principles of fairness, equality, and human dignity worldwide.
The revelations from the ILO report serve as a wake-up call, urging global stakeholders to unite in the fight against forced labour and pave the way for a more just and equitable world.
