Encompassing areas like communications, transport, finance, education, and tourism, the services sector contributes over two-thirds of the world’s GDP and employs more individuals than any other industry. A report by the World Bank and WTO, “Trade Services in Development,” highlights the sector’s significant role in promoting female empowerment. Despite its potential to foster inclusive growth, women still encounter substantial obstacles in the workforce.
The World Bank-WTO report emphasizes the sector’s positive impact on gender equality. By 2021, 59% of employed women worldwide were in the services sector, a notable increase from 44% in 2000. In comparison, only 45% of men were employed in services during the same period. This rise in female participation was particularly pronounced in upper-middle-income countries (22 percentage points) and lower-middle-income countries (14 percentage points).
The services sector is also a major source of job creation, especially for young people and women. Women-led businesses, especially those operating remotely, tend to thrive in this industry, indicating that gender-specific barriers to entrepreneurship are less severe here compared to other sectors.
The International Labour Organization identifies tourism as a promising area for female empowerment, providing numerous opportunities for women to become entrepreneurs and create related jobs. However, challenges like higher rates of informal work persist.
The World Economic Forum’s Global Gender Gap Report also notes the increasing presence of women in professional services, though significant disparities remain. For instance, the gender gap in STEM roles within professional services is nearly 20 percentage points.
The overall Economic Participation and Opportunity gap is only 60.5% closed, and at the current rate, it will take 152 years to achieve gender parity in this area. Advancing women’s participation in the workforce could boost global GDP by 20%, according to the World Bank.
Despite ongoing investments, UN Women predicts that over 340 million women and girls will still be living in extreme poverty by 2030. Women spend, on average, three times more time on unpaid care work than men, limiting their opportunities for education and paid employment.
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