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new report by the World Literacy Foundation (WLF) says there are almost 800 million people worldwide who can't read or write. The report also says these people, who are spread across rich and poor countries, are “trapped in a cycle of poverty with limited opportunities for employment or income generation.”
    
Rich countries lose $898 billion annually due to workforce illiteracy, which can reduce business productivity, while emerging economies lose $294 billion, according to the report. In 2015, the United States is projected to lose $362.49 billion, followed by China with a $134.54 billion loss and Japan coming third with a projected loss of $84.21 billion.

The cost of illiteracy to developing countries is estimated at 0.5% of their GDP, while emerging economies are estimated to lose 1.2% of their GDP. Illiteracy cost in developed countries is estimated at about 2% of GDP.

The WLF said efforts to get children enrolled in schools should be combined with strategies to ensure they stay in school and finish their education.