Women’s Socioeconomic Standing Increases in New Zealand: MasterCard Index
Auckland, 6 March 2009 - MasterCard Worldwide today released the findings of its annual MasterCard Worldwide Index of Women’s Advancement. New Zealand saw its Index score rise to 90.5 from 80.0 in 2008, ranking it third in Asia/Pacific, behind Australia (96.1) and Thailand (91.5).
This is the fifth year that MasterCard has released this Index which uses four key indicators to measure the socioeconomic level of women in relation to men:
The resulting Index figure calculated from these indicators shows how close or how far women in each market are achieving socioeconomic parity with men. A score under 100 indicates gender inequality in favour of males while a score above 100 indicates inequality in favour of females. A score of 100 indicates equality between the sexes. The Index and its accompanying reports do not represent MasterCard financial performance.
"In New Zealand, the number of women per 100 men who consider themselves in a managerial role at work jumped from 37 in 2008 to 71 in 2009," said Stuart McKinlay, Country Manager New Zealand, MasterCard Worldwide. "However, within Asia/Pacific this was still behind Singapore at 86 women per 100 men, China at 75 and Australia at 74."
New Zealand also recorded one of the highest ratios of female to male participation in the labour force in Asia/Pacific at 89 women per 100 men, behind only Vietnam at 94 women per 100 men.
"The other area where New Zealand comes into its own is the proportion of women to men we have enrolled in tertiary education. We topped the table in Asia/Pacific with 154 women enrolled per 100 men, followed by Australia with 132 women per 100 men and Malaysia with 131. This trend of having more than 100 women enrolled in tertiary education for every 100 men was also seen across many markets in the region. The Asia/Pacific average for this indicator was 105 women per 100 men."
New Zealand's overall Index score was pulled down because of fewer women per 100 men perceiving themselves to be earning above median income. Singapore ranked highest in Asia/Pacific, with 98 women per 100 men considering themselves as earning above median income, followed by Australia (92) and Thailand (83). Although it increased from 42 women per 100 men in 2008, New Zealand’s score trailed at 48 in 2009.
Additional highlights include:
"This is the fifth year of the MasterCard Worldwide Index of Women’s Advancement and it has been interesting to see the movements in scores in New Zealand in terms of labour force participation, tertiary education enrolment rates as well as perceptions towards managerial positions and earning above median income. The women’s segment is of importance to many businesses and we are glad to be providing these insights to help companies better understand and reach out to this important target group," said Georgette Tan, vice president, Communications, Asia/Pacific, Middle East and Africa, MasterCard Worldwide.
MasterCard is committed to empowering women through initiatives such as its U21 Global Scholarship for Women in Travel and Tourism, which was launched in 2006 to provide working women professionals a programme to develop their leadership skills and realize their full potential in the area of travel and tourism. The programme comprises scholarships given out for the U21Global Executive Diploma of Business Administration that can articulate into The University of Nottingham MSc in Tourism and Travel Management. In 2008, New Zealand received a quarter of the scholarships awarded to the region.
MasterCard has devoted extensive resources to developing a deeper understanding of the women's segment in Asia/Pacific, Middle East and Africa. It regularly releases consumer insights and trend research on women. These can be accessed at its online repository of proprietary research www.masterintelligence.com
NOTE TO EDITORS:
This news release is distributed with the table below that shows the MasterCard Worldwide Index of Women’s Advancement by market. The full report can be found at the website www.masterintelligence.com
MasterCard and its Suite of Research Properties
The MasterCard Worldwide Index of Women’s Advancement is part of the MasterCard Worldwide Index suite of research products in Asia/Pacific. The other key MasterCard Worldwide Index research products include the MasterCard Worldwide Index of Consumer Confidence, the MasterCard Worldwide Index of Consumer Purchasing Priorities, the MasterCard Worldwide Index of Consumer Purchasing Resilience, the MasterCard Worldwide Centers of Commerce and the MasterCard Worldwide Emerging Markets Index. Besides the suite of Indexes put forth by MasterCard, MasterCard also develops Insights reports as part of its series of ongoing research and analysis of business dynamics, financial policies and regulatory activities in the Asia/Pacific region. Over 60 reports have been produced since 2004.
The suite of Indexes and reports do not represent MasterCard financial performance.
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 21 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com.