Women City

Women to Change Global Economy in the Coming Decade

By SiliconIndia   |   Monday, October 15, 2012
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Bangalore: If you were to cite some factors that would cause some potential changes in the global economy within the coming decade, then perhaps evolving technology and fiscal challenges in Western countries would be at the top of the list.  But according to DeAnne Aguirre,  women are set to dramatically reshape the global economy - a factor one might not have yet considered, as reported by management.fortune.cnn.com. 

According to the research undertaken by fortune CNN, nearly 1 billion women are estimated to enter the global economy in the coming decade alone. The impact of these women on the global economy is said to be just as significant as that of China and India, respectively; hence being popularly dubbed the “third billion”.

Soon women will go on to change the culture of the world’s most esteemed organizations. It has been observed that there is a drastic increase in the number of women stepping in to organizations and also a large increase in the number of women entrepreneurs world-wide. In China, women make up for a quarter of the country's entrepreneurs. We can soon expect to see women filling up the executive positions in big organizations as well.

If the employment rates for both men and women were to match evenly in the U.S.A , then the overall gross domestic product (GDP) would increase by five percent. In Japan, such a change could raise GDP by 9 percent. The change will bring about a more distinctive change in the developing countries. The United Arab Emirates would see a spike of 12 percent in GDP, and the Egyptian economy would grow by a large 34 percent.

China already boasts of housing half of the world's self-made female billionaires. In Egypt, about 20percent of all firms are owned by women. These firms are unlike some typical women-owned businesses in many other countries, which tend to represent local service sectors.  Egyptian women-owned companies account for 20percent   in the chemical and pharmaceutical industry and 15percent of firms in the food industry. Times are indeed changing.

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