An Ernst & Young’s report, called High achievers: Recognizing the power of women to spur business and economic growth, says women are an untapped market.
It says women will wield enormous influence over politics, sport, business and society over the next decade. And predicts the global incomes of women will grow from US$13 trillion to US$18 trillion in the next five years—almost twice the growth in GDP expected from China and India combined.
Read: Women don’t understand money and sports…right?
“Investing in the enormous untapped potential of women is a strategic imperative,” says Trent Henry, Ernst & Young’s Canadian chairman and CEO. “They’re the largest pool of incoming talent globally, and are also our future clients and the biggest economic growth engines of the next decade.”
Read: Women: The next emerging market
Today Ernst & Young is honouring two of its female members. Both Anne-Marie Hubert, managing partner of Advisory Services at Ernst & Young, and Fiona Macfarlane, managing partner of B.C. and chief inclusiveness officer, earned top spots on 2012’s list of Canada’s most powerful women.
In related news, the CFIB’s Catherine Swift was also named one of Canada’s most powerful women in the trailblazers and trendsetters category.
She was one of the first women in Canada to head a major business association, as she was named president of the international small business congress in 2011.
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8 ways women can advance in capital markets