The first World Savings Day was established on October 31, 1924, when the World Association of Savings Banks hosted its first International Savings Bank Congress in Milan, Italy. Italian professor Filippo Ravizza declared this day “World Savings Day” on the last day of the conference.
In its resolutions, the Thrift Congress declared that “World Thrift Day” should be a day devoted to promoting savings globally. The savings banks also enlisted the aid of the clergy, the women’s movement, and professional, sports, and cultural organisations in their campaigns to encourage thrift.
