Women make around 75% of all household consumptions decisions, and control close to $100 trillion in wealth. In recent years, the digital economy, rise of the services sector and gradually changing attitudes have all played their part in expanding women's roles in the corporate sector, decreased inequality and increased female access to skills and education.
While there have been some signs of progress for women and girls globally, much more needs to be done. Furthermore, the COVID pandemic was a setback for gender equality, especially in the workplace. In the US, at least 2 million women left the workforce, bringing their participation in the labor market to its lowest level since 1988.
We need to proactively reverse such trends as women can no longer be ignored. There's a multiplier effect in women's advancement, like the multiplier effect in economics. And studies have shown that when companies increase employment and leadership opportunities for women, they reap the benefits in areas like organizational effectiveness and growth.
The latest episode of Living Beyond Borders, a special podcast series from GZERO Media brought to you by Citi Private Bank, examines how societies and businesses prosper when women are given the right opportunities, why it matters, and what needs to be done to further gender equity. Moderated by Tracy Moran, Managing Editor of GZERO's daily newsletter Signal, this episode features Ida Liu, Global Head of Private Banking at Citi. and Isadora Seixas, Global Macro Geostrategy Analyst at Eurasia Group.