Closing Health Gap for Women Could Inject $1 Trillion into Economy: Study

Investing in women’s health isn’t just the right thing to do, it’s a smart economic move according to a new study by the McKinsey Health Institute and the World Economic Forum (WEF). The research reveals that closing the global gender gap in healthcare could lead to a significant economic boost, potentially adding $1 trillion annually to the global economy by 2040.

The crux of the issue lies in the fact that despite living longer on average, women experience a greater burden of ill health compared to men. The study highlights that women spend a significant portion of their lives – 25% more – in poor health. This translates to lost productivity and participation in the workforce.

However, the report offers a positive outlook. By addressing these disparities and improving access to quality healthcare for women, the global economy could reap significant benefits. The study estimates a 1.7% increase in global per capita GDP as a result of closing the health gap.

The WEF report emphasizes the need for improved access to gender-specific healthcare services. It also calls on industry leaders to develop innovative financing models and business practices to address this issue. Collaboration across various sectors is seen as a critical step towards achieving gender equality in healthcare and unlocking its economic potential.

This research adds weight to the growing movement advocating for improved women’s health services. By recognizing the economic benefits alongside the human impact, the study provides a compelling argument for prioritizing investments in closing the women’s health gap.