A new report by the World Economic Forum (WEF) highlights the importance of boosting women’s health. Released coinciding with Davos 2024, it shows that doing so will allow women to contribute more effectively to the workforce. This could add $1 trillion to the economy annually by 2040.
The report is in collaboration with McKinsey Health Institute.
A trillion-dollar boost
Research shows that women experience “poor health” for 25 percent longer than men, averaging nine years in their lifetime. This affects women’s productivity.
According to the report, by tackling health concerns that mainly or more severely impact women, women’s time spent in poor health could be cut by almost two-thirds. This would improve the health and daily lives of over 3.9 billion people. Additionally, it could result in a 1.7 percent rise in per capita GDP.
“Investing in women’s health goes far beyond individual women. It is a direct investment in families, communities, societies and economies. Our collective future rests on closing the women’s health gap,” remarked Anita Zaidi. She is the president of the Gender Equality Division at the Bill & Melinda Gates Foundation.
Read: Davos 2024: WEF report advocates holistic growth assessment
A global platform
The WEF has launched the Global Alliance for Women’s Health to help address the issues mentioned in its report. As of writing, 42 organizations have already expressed their intent to join the multi-sector global platform.
Zaidi and Brazil’s Health Minister Nisia Trindade Lima will co-chair the alliance’s board.
The WEF shared that the organizations will pledge new commitments to advance the alliance’s objectives. Major partners have already committed $55 million.
For instance, Rotary International is set to introduce the Rotary Healthy Communities Challenge to improve women’s wellness. This initiative will allocate $30 million toward disease prevention, treatment, and maternal and child health in the Democratic Republic of Congo, Mozambique, Nigeria and Zambia.
As emphasized by Trindade Lima, “Quality, affordable and accessible healthcare, particularly in the context of women’s health, is a critical aspect of ensuring the well-being of women.”
“This is a critical moment for a greater mobilization across sectors to invest in women’s health, keeping in mind the imperatives of equity and integral care,” she added.
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