A virtuous circle can be created by elevating the position of women in society, evidence suggests. Research by the World Bank found that rising incomes in a country led to lower fertility rates, allowing more women to enter the workforce.
Closing the gap between the labour force participation rates of men and women has been a factor in driving growth as the workforce expands. However, globally the labour force participation rate for women between 25 and 54 is still just 63pc compared to 94pc for men.
A McKinsey report in 2015 estimated that $12 trillion could be added to annual