How gender equality boosts economic growth

Did you know that gender equality goes hand-in-hand with economic and financial stability? Women account for half the world’s working-age population. Therefore, the global economy suffers when they’re denied the opportunity to reach their full economic potential.

In countries where women have more equal opportunities, the economy is much more resilient, sustainable and competitive. According to a study by McKinsey Global Institute, closing the workforce gender gap could add as much as $28 trillion to the global GDP in 2025. Moreover, boosting women’s participation in the labor force could help offset the impact of a shrinking workforce in rapidly aging societies.

Women bring new skills to the workplace, increasing productivity and growth. Moreover, giving women equal opportunity to participate in agriculture and equipping them with climate-smart practices can accelerate progress toward addressing food insecurity and climate change.

Although there has been significant progress toward gender equality, women still have fewer career opportunities and earn, on average, 16 percent less than men. This International Women’s Day, it’s up to you to push for more aggressive change. Although governments and businesses play a crucial role in reducing the gender gap, so do you.