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By 2025, women could add an additional 26%, to the global annual GDP if they participated in the economy at the same level as men, as reported by McKinsey Global Institute. According to the UNDP, gender disparity is seen in every country and many women face unequal treatment at their workplace as compared to men. Increasing gender equality is important, but also beneficial for both the individual and for society, for several reasons:

Firstly, the yearly global GDP could increase by $28 trillion. Through increased efforts of gender equality both socially and in the workforce, women can be empowered to seek employment in the formal sector and reduce un-regulated activity in the informal economy. This increase will positively affect the consumer economy and result in more federal wealth with more tax payments.

Two; increased efforts to fight gender inequality will result in safer communities. Inequalities and financial disparities may prove dangerous as scarce job opportunities can result in frustration, and eventually lead to social upheaval. As 70% of the world’s poor are women, increased efforts to fight off gender inequality through employing more women will also decrease the chances of social unrest.

Therefore, greater gender parity and increased levels of female employment will have positive social and economic results.

For more information:

Table 5: Gender Inequality Index

Women could boost Asian economies $4.5 trillion

The Economic Benefit of Gender Parity 

Economic Benefits of Gender Equality in the European Union

World Economic Forum Warns of Dangers in Growing Inequality

How Advancing Women’s Equality Can Add $12 Trillion to Global Growth

The Cost of Gender Inequality: Unrealized Potential – The High Cost of Gender Inequality in Earnings

 


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