Closing Gender Gap could Gain Silicon Valley $25 Billion GDP by 2025
Gender gap may not be good after all for corporate. According to several researches diversity is good for the economy as well as businesses. A new McKinsey report revealed that in case Silicon Valley can bridge the gender gap, the technology sector could gain $25 billion in gross domestic product (GDP) by 2025, which will be a nine percent increase. The San Francisco city could move its GDP around $45 billion by 2025.
When compared to other metropolitan areas, statistically Silicon Valley has a scope for improving its overall gender equality. McKinsey's survey shows that Silicon Valley has a gender gap near a .57 score compared to San Francisco's .69 and New York's .61.
All said and done Silicon Valley is the best performing Metropolitan statistical area in California when single mothers are taken into account. That simply means, the area has comparatively lesser number of single mothers in comparison to other areas.
San Francisco also ranks among the top performer in matter of single mothers but the city has a noteworthy opportunity to add number of women to the labor force. Currently there are eighty women for every hundred men in the workforce of San Francisco.
When achieved complete gender parity, which is a possibility when women participate equally in the economy as men, the U. S. could add $4.3 trillion in 2025 GDP nationally. It is possible by closing the gender gap at work places.
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