Higher Growth When More Women Work

“Employers who don’t offer equal opportunities to women simply ignore a large part of the skilled workforce. In many countries, growth could be much higher if more women were in paid employment. In Japan, for example, raising the female labour force participation rate to Northern European levels would permanently raise per capita GDP by 8 per cent. Women also have great entrepreneurial potential. For instance, women-owned companies represent between 30 and 40 per cent of formal small and medium-sized enterprises in emerging markets. Also, raising women’s incomes will improve education levels, as research shows that women spend a larger share of their income on the welfare of their children.”

Christine Lagarde, President, IMF

International Women’s Day, March 8^th 2013