Corruption costs developing countries $1.26 trillion every year – yet half of EMEA think it’s acceptable

-Corruption is a global problem.

-It costs both money and lives.

-International collaboration is the only way to defeat it.

Corruption takes many forms. It is often thought of as a problem that mostly affects developing countries. But while the harm it does is magnified in poorer nations, corruption does not concern itself with national boundaries – it can be unearthed anywhere.

At the 50th World Economic Forum Annual Meeting in Davos next month, Founder and Executive Chairman Klaus Schwab will launch the Forum’s Davos Manifesto. It will state the need to adopt a new economic model, “stakeholder capitalism”. And at its heart is a call to fight corruption. That fight has been central to the World Economic Forum’s work for many years, and in 2004 it established the Partnering Against Corruption Initiative (PACI).

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