Global Financial Inclusion: Mechanisms, Regional Disparities, and Recommendations for Improvement

Since the financial crisis of 2008, the international community has increasingly emphasized financial inclusion. The outbreak of the COVID-19 pandemic has severely impacted the global economy, making economic recovery and relief urgent priorities. Financial inclusion, as a crucial means in this process and a hot topic in the financial sector, warrants deeper exploration and analysis. To examine the current state of global financial inclusion, especially its prospects and challenges in the post-COVID-19 context, this paper systematically analyzes the mechanisms, current status, and regional disparities of global financial inclusion based on the World Bank's 2022 "Global Findex Database 2021" report. The study finds that although global financial inclusion has been steadily improving, factors such as the COVID-19 outbreak, income inequality, and gender disparity continue to hinder vulnerable groups from accessing convenient and affordable financial services within the formal financial system. Therefore, advancing the process of inclusive finance still requires the collective collaboration and effort of governments worldwide.