- Despite promising growth in account ownership and use, only about half of adults in developing economies could access extra funds within 30 days if faced with an unexpected expense, and about half of adults were very worried about at least one area of financial stress.
Only 55 percent of adults in developing economies could access emergency money within 30 days without much difficulty. Friends and family were the first-line source of emergency money for 30 percent of adults in developing economies, but nearly half of those said the money would be hard to get. Furthermore, women and the poor were less likely than men and richer individuals to successfully raise emergency money and more likely to rely on friends and family as their go-to source.
About 50 percent of adults in developing economies were very worried, in particular, about covering health expenses in the event of a major illness or accident, and 36 percent said health care costs were their biggest worry. In Sub-Saharan Africa, worry over school fees was the most common worry overall (for 54 percent of adults) and the biggest worry for 29 percent. Eighty-two percent of adults in developing economies were very worried (52 percent) or somewhat worried (30 percent) about the continued financial toll of the COVID-19 pandemic.