: ‘Largest Growing Economic Force in the World Isn’t China or
Recent Kwazulu-Natal Business News
New global research released by the US-based Boston Consulting Group
(BCG) has revealed that women will create 70 percent of the global
growth in income at the household level over the next five years.
The research – which surveyed 12 000 women in 22 countries – found that women spend over 70% of consumer dollars worldwide. The study also found that women account for half of university students across the globe. The findings led CNN to declare this October that, “the largest growing economic force in the world isn't China or India – it is women”.
Despite these gains, Michael Silverstein, a partner at BCG, said in the Report that women still earn only 77 cents for every dollar men do. And the ranks of female CEOs are still thin. "Most of the big companies are worked by men, for men," he said.
Dr Marjolijn Dijksterhuis, director of the Women in Leadership programme running at the UCT Graduate School of Business in May and July this year, argues that much needs to be done in order help women break through the glass ceiling that exists in many organisations.
“This increasing centrality of women to driving growth is not reflected at the senior level of business and government, where women are increasingly present but still the minority,” said Dijksterhuis.
“Women have a bigger role to play at the level where executive decisions are made,” she said.
The GSB Women in Leadership programme targets women at this level and has been designed to facilitate the jump to senior leadership.
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