Why 2018 must be the year for women to thrive

The need for greater respect and opportunities for women is becoming an ever more prominent feature of the public conversation. Longstanding advocates for women’s empowerment are feeling energized, while countless others — women and men alike — are being persuaded of the urgency of this task. This year at the World Economic Forum the challenge of female empowerment is also firmly on the agenda, because giving women and girls the opportunity to succeed is not only the right thing to do but can also transform societies and economies.

The economic facts speak for themselves: raising women’s labour force participation to that of men can boost GDP, for example, by as much as 9% in Japan and 27% in India. IMF research has uncovered myriad other macroeconomic benefits: reducing gender gaps in employment, as well as in education, can help economies diversify their exports; appointing more women onto banking supervision boards can challenge cozy group-think, thereby supporting greater bank stability and financial sector resilience; and tackling gender inequality can reduce income inequality, which, in turn, can drive more sustainable growth.

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