The cost of gender inequality
November 10, 2015
A new study by the McKinsey Global Institute has found that the cost of gender inequality could be even higher than previously thought.
Using common measurements of economic equality and metrics for social, political and legal equality, gender parity scores were assigned to 95 countries. These countries account for 97% of the world’s GDP, as well as 93% of the world’s women.
40 of countries studied still exhibit high levels of gender inequality in most aspects of work.
The study estimates that the global GDP could increase by 26% by the next 10 years if women were given the opportunity to match men in the workface. In order to achieve this and boost the economic standing of women, governments, non-profits and businesses must focus on the areas of education, legal rights, access to financial and digital services, and unpaid care work.