A display device including a substrate including a display area; a light-emitting element positioned on the substrate; a bank including a first opening corresponding to the light-emitting element; an encapsulation layer positioned on the light-emitting element; a touch electrode positioned on the encapsulation layer; a black matrix positioned on the touch electrode and including a first layer and a second layer positioned on the first layer, the second layer having a lower refractive index than the first layer; and a color filter positioned on the touch electrode.