ECONOMIC GENDER INEQUALITY GAP CLOSURE EXTENDS TO 169 YEARS: WEF

Sat 20 January 2024:

In a recent report by the World Economic Forum (WEF), experts suggest that the eradication of gender inequality from the world could take as long as 169 years.

The report highlights a concerning deterioration in the global situation of gender inequality compared to estimates from 2019. Initially, before the onset of the COVID-19 pandemic, the projections for closing the economic gap between men and women stood at 100 years.

The adverse impact of anti-epidemic restrictions, particularly on sectors heavily reliant on female employment like tourism and retail, has exacerbated the existing gender disparities. The study, encompassing data from 146 countries, reveals that women now face approximately 40% fewer opportunities for economic participation than their male counterparts.

Concurrently, a report from the international charity Oxfam, focusing on economic inequality, paints a stark picture. At the current pace, the world is anticipated to eliminate poverty only after 230 years. The financial situation of 60% of the global population worsened in real terms last year compared to 2019. Factors such as inflation, unemployment, and escalating food prices post-pandemic have contributed to the widening wealth gap.

Over the past three years, the combined wealth of all billionaires has surged by $3.3 trillion, outpacing the rate of inflation threefold. Oxfam’s prognosis predicts the emergence of the world’s first trillionaire within the next decade, underscoring the alarming trajectory of global economic inequality.

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

______________________________________________________________

FOLLOW INDEPENDENT PRESS:

WhatsApp CHANNEL
https://whatsapp.com/channel/0029VaAtNxX8fewmiFmN7N22