The World Brewing Alliance is urging delegates at this week’s IMF World Bank Spring Meetings, in Washington, to hold their sideline meetings over a beer.
Supporting one in every 100 jobs globally and contributing 0.8% of global GDP, the $878bn brewing industry is vitally important to the global economy as a major employer, investor, and driver of growth.
With IMF World Bank talks to delve into pressing economic issues such as the global growth outlook, financial stability, and poverty reduction, the global brewing industry remains crucial in supporting economies.
At a global level, the overwhelming majority (86%) of brewers’ supplier spending is directed to businesses within the local country of production. Low and lower-middle income countries have seen a 27% boost in GDP contribution and a 24% increase in jobs generated between 2015 and 2023, thanks to the brewing industry.
In addition to the economic contributions of the beer industry, research shows that switching populations from higher-alcohol options to lower-alcohol options, like beer, can have a positive impact on public health. That’s why the IMF suggests taxation should reflect the amount of ethanol in a product and should be differentiated into tiers by alcohol strength.
“Every beer is the product of an industry that supports millions of local jobs and bolsters economies in every corner of the world,” said Justin Kissinger, president and chief executive of the World Brewing Alliance. “And, importantly, every beer is an opportunity for people to come together, find common ground, and create deeper understanding.
“As policymakers come together in DC next week against an extremely challenging economic backdrop, we urge them to ensure a supportive regulatory environment for brewers to do business, so that our industry can continue delivering prosperity and supporting positive public health outcomes.
“Plus, with expanding lower- and no-alcohol options, leaders can toast with or without alcohol when they meet over a beer.”
