Research Says: Global Economy Recovery Will Be Driven By Women

Study: The Global Economy Recovery Will Be Driven by Women: Opinion (W2W)

Finding: Empowering women could be the key to economic recovery.

Note about The Woman Effect Research Index: This study was performed by researchers not affiliated with InPower Women. Our Research Index includes all relevant research to the subject of women, business and power. We do not influence how the research was conducted or reported by the researchers. In our abstracts, we focus on pulling out the most actionable advice for individual women. To suggest additional research we should index, or discuss our choice of abstract focus, please contact us

InPower Insight: Women are not only good for business, they’re good for the economy – and the world.

Summary:

Are women the answer to our sagging economy? Research seems to say yes, and business magazines such as the Economist are agreeing, stating “the next giant growth wave won’t come from the internet, China or India, but from empowering women.”

According to W2W and other sources, empowering women is the key to rescuing the currently failing American economy. W2W purports that internationally, women control nearly 21 trillion dollars in consumer spending yearly and that number is expected to increase to 28 trillion by 2014. Further, women currently earn 13 trillion dollars yearly and could increase to 18 trillion in the same timeframe.

Women represent a market-worth that’s greater than that of India and China combined. Representatives of the World Bank also purport that when countries are in economic crisis, they tend to place more women in the workplace such as during the Great Depression in the early 1920s.

Alonzo Fulgham, Acting Administrator of International Women’s Day stated that “not only are women the drivers of economic growth, they can be the drivers of economic recovery.” The recovery will be based on women’s involvement in developing more businesses and products globally, spending more, and enhancing their communities.

Career Coaching Tip: Don’t get caught up in the negative talk about what women don’t have in the workplace – senior positions, pay etc. It may be “true,” but it’s also true that we – you – are part of a huge and important economic engine. Through your economic participation, working and buying, you’re helping grow and restabilize the world economy. Is that enough for you to lean in and make the most out of your career? It doesn’t  have to be the main reason you keep going to work every day, striving to get ahead and support yourself and your family, but it’s yet another good reason to feel good about all the hard work you do.