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Gender Inequality Could Be Costing Asia Pacific $4.5 Trillion

Michelle Jamrisko
Gender Inequality Could Be Costing Asia Pacific $4.5 Trillion

It might be the most dynamic region in the world but the Asia Pacific isn’t meeting its economic potential, and some of that has to do with gender equality, according to the McKinsey Global Institute. Targeted policies to achieve more women’s equality in Asia-Pacific economies could add $4.5 trillion to the region’s combined annual gross domestic product by 2025, or 12 percent better than if the status quo were maintained, MGI, the business and economics research arm of McKinsey & Co., said in a report Tuesday. The researchers estimate that 58 percent of that potential growth would be from raising women’s labor-force participation rate, a quarter from putting more women to work in higher-productivity sectors and 17 percent from boosting women’s work hours.