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Women in the workforce can fuel Asia’s growth in post-Covid economy, says McKinsey partner

As a coronavirus-fuelled recession looms, Asian economies are sitting on a powerful and underutilised engine of growth that could help them pull out of the downturn: female workers.

Management consultants McKinsey & Company found that if Asia-Pacific economies advance women’s equality in the workplace it could mean an extra US$4.3 trillion or 12 per cent of their collective annual GDP over the next 10 years.

This figure does not even assume full equality with men, merely that all countries meet best-in-Asia levels on several measures of workforce participation.

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