It is a business that exists in the shadows. You won’t see a billboard for a domestic slave, nor a glossy magazine spread for the latest in forced labor. While cities struggle to rid their streets of prostitutes, they forget these people are victims of crime. Yet, make no doubt: human trafficking is big, big business.
The International Labor Organization (ILO), a United Nation’s agency dealing with labor issues, has released a report makes clear the financial aspects of human trafficking. The report takes some time to clearly define human trafficking/forced labor, stating that this includes debt bondage, but makes clear that things like mandatory military service does not constitute forced labor.
With that, the ILO says human trafficking accounts for $150 billion of annual global profit. That’s more than tobacco ($35B), Google ($50B), Big Oil ($120B) and even the U.S. banking system ($141.3B). It is most profitable in economically-stable, developed areas, such as those of the European Union and the United States. Sexual exploitation is the most profitable form of human trafficking but the most common form of trafficking is labor in areas such as agriculture, manufacturing, mining and domestic service. (more…)