Vienna, Austria, September 9, 2024 – World Data Lab, a leader in providing forward-looking insights and data-driven forecasts, is pleased to announce the filing of a patent with the United States Patent & Trademark Office (USPTO). The patent filing covers an innovative method designed to enhance the accuracy and scope of forecasting economic trends, consumer spending, and demographic shifts..

According to WDL projections, Africa will experience its highest-ever youth population growth in this decade (2021-2030), with the population projected to increase by almost 100 million between 2023 and 2030. Against this backdrop, enabling young people in Africa to access dignified and fulfilling work is more important than ever and a collective, renewed impetus underpinned by credible data is needed to achieve this.

Wolfgang Fengler, CEO of World Data Lab, stated:
"This patent is an important milestone for WDL. We are an innovation driven company to create practical solutions and reliable insights for our clients to help them navigate an increasingly complex economic landscape."

Katharina Fenz, Lead Data Scientist at World Data Lab, added:
"The method covered in this patent represents significant progress in how economic forecasts can be generated and used. We look forward to continuing our work in delivering high-quality, accurate data to our clients."

This patent filing reflects World Data Lab’s ongoing commitment to scientifically based data-driven solutions that meet the evolving needs of the marketplace. As the company continues to grow, World Data Lab continues to invest in innovation and data accuracy.