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Gender Inequality Could Be Costing Asia Pacific $4.5 Trillion

  • Region is ‘engine of growth’ punching below weight: McKinsey
  • Policies to boost women would add 12% to region’s GDP by 2025
Singapore has boosted female participation to 58 percent in 2016 from 28 percent in 1970.

Singapore has boosted female participation to 58 percent in 2016 from 28 percent in 1970.

Photographer: Sanjit Das/Bloomberg

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.