Between 2002 and 2007, women’s income (globally) increased by nearly $3 trillion to $9.8 trillion. By 2014, women’s income will jump by $5 trillion to $15.6 trillion.
o In the U.S. and E.U., most college students (57 percent and 55 percent, respectively) are women. Worldwide, almost half (49 percent) of college students are women.
By 2028, women will control nearly three-quarters (72 percent) of consumer spending worldwide. The writing was on the wall in lipstick; it was only a matter of time before research would back up common sense:
All that is happening right now without any direction from business. All companies can do is follow the money and the feminine culture.
- Women buy all the stuff
- The global economy is anchored in consumer goods
- The purchasers of these goods will be filtering them based on their needs
- Women and business working together will co-create the next economy.
Furthermore, even in developed economies where women already are major players in the economy, narrowing the gap between female and male employment could make a big splash. OECD estimates suggest that closing the gender gap in OECD nations would add 12% to the gross domestic product.
Meanwhile, closing the gender gap in Japan would add around 20% to GDP in 15 years, and just narrowing it by 50% would add around 11% to GDP, according to OECD estimates.
But the female economy´s boom is not inevitable. There are some nations where women are still forbidden to work, drive cars, own property, and sometimes even leave their homes. From a strictly economic point of view, this ends up being a disadvantage to individual women and to the larger economy as a whole.
A World Bank report, cited by Quinlan, found that out of the 173 economies examined in the report, women experienced gender-based job restrictions in 100 of them. Husbands could legally stop their wives from working in 18, and married women could not pass citizenship on to their children — while fathers can — in about 24.