Financial Power of Asian Women Grows To Record High: Report

In what could be a record, Asian women are now the owners of more wealth than any other region except for North American females, and their wealth is constantly growing faster than any other region, according to a report by The Financial Times.

According to a study done by the Boston Consulting Group for Nikkei Asia, women in Asia will have $27 trillion in wealth by 2026, $6 trillion more than women in western Europe. The study further estimates that by the end of 2021, the total wealth of women in Asia will surpass that in western Europe.

The surge is driven, in part, by women venturing into careers previously reserved only for men.

According to a Financial Times article based on a study by the Boston Consulting Group, women in Asia have been increasing their combined wealth by $2 trillion annually since 2019.

With a compound annual growth rate of 10.6%, the rapid growth is anticipated to continue for the following four years.

Japanese women weren't included on this list by the BCG because, compared to other nations in the region, they don't hold larger shares of the nation's wealth. According to the survey, the growth rate of Japanese women is 2.6%, which is lower than that of other nations.

This growth report on Asian women's wealth is undoubtedly a sign that women are claiming new places and demanding equality in them around the world, having an impact on the greater gender ecology and future generations.

According to a different study by the international management consulting firm McKinsey, increasing women's equality in the Asia-Pacific region could boost GDP there by $4.5 trillion annually by 2025.