Working women

Bridging gender gaps would add $28.4 trillion to world economy

India would see the highest potential GDP increase with an end to the gender pay gap, according to the report. (TAUSEEF MUSTAFA/AFP/Getty Images)

The world would be a richer place if more women had paying jobs, according to a report from the McKinsey Global Institute (MGI) published in The Economist. Covering 90 percent of the world’s population, the group calculated gender-parity scores that gauge how women fare when compared to men in work and society and found that if gender gaps in hours worked, participation and productivity were leveled, the world would be 26 percent richer – that’s $28.4 trillion added to the global economy. In countries like India (as included with all of South Asia), which scored the lowest at 0.44 on a scale to 1 (perfect gender parity), bridging gender gaps would make the country 60 percent richer. If countries closed their gaps to meet those in their region with the best scores, MGI estimates that $12 trillion could be added to global output by 2025. Closing the gender gap begins with keeping girls in school for longer periods of time and providing better legal protection for women, researchers said.

Read the full story at The Economist.

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