(Source: Hong Kong Commercial Daily)

The World Economic Forum (WEF) released the Global Gender Gap Report 2024, which shows that the global gender gap has narrowed to 68.4 percent by 2024, a slight improvement from 2023. The report assesses 156 countries across four key areas - education, economics, politics and health - and notes that multiple challenges remain to achieving full gender equality. Since its launch in 2006, the Global Gender Gap Index has become an important assessment tool for measuring the progress of gender equality in countries.

Status of the Global Gender Gap

Of the four key areas, the most significant progress in gender equality has been in education, where the global gender gap in education has been closed by 96%. This achievement is reflected in the continued rise in female enrollment in tertiary education, as well as increased female participation in traditionally male-dominated fields such as science, technology and engineering. However, in developing countries, girls' access to education remains limited, especially in remote and impoverished areas, and they are often forced to discontinue their studies due to economic and cultural factors.

The gender gap in the area of health and survival is close to being equalized, but challenges remain. Women still face many obstacles in accessing medical resources and reproductive health services. Especially in areas where medical resources are scarce, women's health needs are often not adequately emphasized and met. Some developed countries have begun to implement targeted policies to protect women's health, including improving maternity leave systems and providing more comprehensive gynecological health services.

The gender gap in the economy has narrowed to 60 percent, but remains one of the most challenging areas. The “glass ceiling” phenomenon in the workplace is widespread, and women face invisible obstacles to promotion. The pay gap between men and women remains significant, even in equal positions. Some advanced enterprises have begun to take proactive measures to support women's career development, such as setting up women's leadership development programs and implementing flexible work schedules.

The gap is most pronounced in the area of political empowerment, bridging only 25%. Although women's political participation has increased in recent years, women are still underrepresented at the highest levels of decision-making. Some countries have made efforts to increase women's representation in parliaments and government bodies, including through the implementation of quota systems, but overall progress remains slow.

Regional development differences

The Nordic countries continue to lead the world in gender equality, with Iceland topping the list for the fifteenth consecutive year. The successful experiences of these countries are worth learning from, including a well-established system of parental leave, inclusive childcare services, gender equality education and other policy measures. These policies have not only supported women's career development, but also contributed to the inclusive progress of society as a whole.

Progress in the Asia-Pacific region has accelerated significantly in recent years, particularly in education and economic participation. Several countries have actively promoted gender equality in the workplace through legislative and policy innovations. However, the influence of traditional cultural attitudes still exists, and the overall level of gender equality still needs to be improved.

Progress in the Middle East and North Africa region has been relatively slow, especially with regard to female employment and political participation. However, some countries have begun to promote reforms, such as relaxing restrictions on female employment and increasing investment in education, showing a positive willingness to change.

Current status of gender gap by region (Source: Dagong Wen Wei Po)

Economic Value of Gender Equality

Gender equality has been proven to be an important driver of economic growth. Studies have shown that increasing the female labor participation rate not only expands the labor market, but also brings innovative thinking and diverse perspectives, which in turn enhances corporate competitiveness. Diverse management teams tend to make smarter decisions and deliver better business results.

Forward-looking companies have recognized that promoting gender equality is not only a way to fulfill their social responsibility, but also a strategic choice to enhance corporate competitiveness. More and more investors have also begun to take gender equality as an important indicator for assessing corporate ESG performance.

Synergy between enterprises and governments

Realizing gender equality requires the concerted efforts of enterprises and governments. Enterprises can create a fairer development environment for women by establishing an inclusive corporate culture, improving promotion mechanisms, and providing career development training. The practices of leading enterprises show that organizations that value gender equality tend to attract and retain better talent.

The government, for its part, should play a guiding role at the policy level by enacting legislation to protect women's rights and interests, eliminate employment discrimination and support women's entrepreneurship. At the same time, it is also necessary to strengthen the regulation and punishment of gender-discriminatory behavior to create a fairer social environment.

As one of the United Nations Sustainable Development Goals, the realization of gender equality is related to the future of global sustainable development. The current economic environment and the challenges posed by climate change make it all the more necessary for governments, enterprises and social organizations to take stronger action to build a more inclusive and fairer society. Promoting gender equality will not only unleash women's potential, but also inject new growth momentum into the global economy.

Editor's Notes:

The latest gender gap report released by the World Economic Forum once again highlights the complexity of global gender equality. The data shows that although the global gender gap has narrowed, the pace of progress is still lagging. Of particular concern is the fact that gender gaps in the economic and political spheres remain significant, suggesting that structural barriers have yet to be effectively addressed. Against the backdrop of the continued rise in ESG investment, gender equality has become an important indicator of corporate sustainability. Governments and businesses need to recognize that promoting gender equality is not only a requirement for social justice, but also a key to unlocking the potential for economic growth. It is recommended that enterprises incorporate gender equality into their ESG strategic frameworks and support women's development through concrete actions, which is not only a way to fulfill their social responsibility, but also a wise way to enhance their competitiveness.