Closing the gender gap for women-led businesses could boost global GDP by $2 trillion, Citi says
By | Hannah Miao | www.cnbc.com
- Female-founded companies received only 2.1% of venture capital dollars invested in 2021 in the U.S., according to PitchBook.
- Achieving gender parity in business growth could boost global gross domestic product by as much as $2 trillion, or 2% to 3% of global GDP, a Citi analysis found.
- Gender equality could also generate between 288 million and 433 million jobs, according to Citi.
Women receive a small fraction of venture capital funding and closing the investment gender gap could drive economic growth, according to a new report from Citigroup.
Female-founded companies received only 2.1% of venture capital dollars invested in 2021 in the U.S., according to PitchBook.
“Lack of access to finance is one of the greatest challenges that women entrepreneurs face around the world,” Andrew Pitt, global head of research at Citi, said in the report.
Achieving gender parity in business growth could boost global gross domestic product by as much as $2 trillion, or 2% to 3% of global GDP, according to Citi’s analysis. Gender equality could also generate between 288 million and 433 million jobs, Citi found.
