The Female Economy

I read Lady Geek’s recent blog post about the ‘Female Economy’ with interest, about how women represent the biggest market opportunity in the world. With female income totalling $13 trillion, this figure is larger than the GDP of China and India combined!

female economy

This got me thinking about how this is relevant to women in the workplace, women on the board and more specifically women in technology. What these figures show, and what this article in the FT also highlights, is that women have a huge amount of purchasing power and this could be a way of helping us out of the recession. With women representing such a big proportion of society and controlling so much consumer spending, how can companies afford not to have women on their teams and management? How are predominantly male teams going to be able to relate to their customer base effectively and understand its needs? The simple answer is: they can’t. Ultimately it’s going to be the forward thinking companies that employ and promote plenty of women that will have the edge when it comes to boosting sales, keeping customers happy and staying ahead of the competition.

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