A small number of successful female business owners are gradually changing the business landscape. Women thriving the pathway in the world of business, despite facing obstacles that are not frequently experienced by men, such as discrimination. Today, more women are challenging these obstacles, among them Asian women are at the top.
For the first time in history, women in Asia now collectively control more wealth than women in any other region outside of North America, and their wealth is increasing at a faster rate than anywhere else in the world.
According to a Boston Consulting Group (BCG) study for Nikkei Asia, women in Asia (ex-Japan) will own $27 trillion in wealth by 2026, $6 trillion more than women in Western Europe. It was discovered that by the end of 2021, the wealth of women in Asia would surpass that of women in Western Europe.
Wealth Of Asian Women Is At An All-Time High- Report
Since 2019, Asian women have been increasing their collective wealth by $2 trillion each year. It is anticipated that this quickening pace will last for at least the next four years, with a compound annual growth rate of 10.6%.
The BCG analysis is based on financial wealth, which includes investment funds, pensions, life insurance, listed and unlisted stocks, other equity, cash and deposits, bonds, and other similar financial assets. According to the consulting firm, women own a much smaller share of wealth in Japan than in other comparable markets, so it was excluded from the analysis. Furthermore, it stated that women’s wealth in Japan is increasing at a much slower 2.6% rate.
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This is the first of a five-part series that will investigate the causes of this rising wealth, the extraordinary advancements made by women, and the ongoing obstacles posed by systemic discrimination.
The majority of the series’ reports come from countries other than the United States, including Bangladesh, China, India, Indonesia, Pakistan, the Philippines, Singapore, Taiwan, Thailand, and Vietnam. Malaysia, Myanmar, South Korea, and Sri Lanka were all included in the BCG analysis.
The wealthiest top 10% of people own more than 60% of the wealth, leaving only about 5% for the bottom 50%, according to a Nikkei Asia analysis of men’s and women’s wealth culled from the World Inequality Database. This is true for the majority of the nations we are focusing on, and the gap has been growing in India and China, the two most populous nations in the region.
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