Women's Day: 99.5 Years Remaining
How to Accelerate the Countdown Toward Gender Equality
For women and girls to develop their full potential, there must be a change of mentality and concrete programs that support their initiatives.
By Janet Rivera-Hernández, Vice President of Communication at Mastercard for Latin America and the Caribbean
According to the 2020 Global Gender Gap report published by Women Economic Forum, there is an average of 99.5 years still remaining to close the gender gap in the world. Given the outlook, we must all take determined and urgent action. To continue to ignore women's talent and the contribution they have made to global prosperity is simply unacceptable. There is simply no reason for it.
Although it sometimes seems that the world was designed with only half of its inhabitants in mind, diversity and inclusion contain the key to future development, unanimously. Recent studies with proposals on how to recover economically from the Covid crisis are saying precisely this, but it is also evident in the mentality of the Millennials, for whom gender equality is obvious beyond a doubt.
According to the calculations of McKinsey, Latin America could increase 14% of its GDP in five years by just incorporating women into the workforce. That means $2 billion of extra revenue for a region whose growth is stagnating when compared to that of Asia and Europe—not because of lack of investments, but because its low levels of productivity and human capital.
But behind the numbers there are people, and beyond the objectives there is a lot to do. To start, we must diversify the opportunities to give women equal access to equal possibilities. The programs designed by Mastercard, and implemented through strategic alliances with companies, organizations, and universities, were designed to support women in their jobs through training or in their role as entrepreneurs through mentoring.
At Mastercard, we’re tackling this problem head on with a variety of programs including,