We are at the bottom of gender equality in wealth
Economic Turkey, the country where violence against women is most prevalent among Organization for Economic Co-operation and Development (OECD) countries, is at the bottom for gender equality in wealth, according to the latest report. The results of the Global Wealth Equality Report 2022 once again demonstrated the income inequality of women and men in business life in Turkey. According to a global study by WTW, Turkey is one of the few countries in the world with the highest inequality of wealth until retirement between men and women.
BEHIND THE MIDDLE EAST
According to the report, Turkey lags far behind the world average of 0.74 with an index value of 0.63. This value means that women in Turkey can own only 63 percent of assets until retirement. There are only two countries under Turkey; Argentina with 0.61 and Nigeria with 0.60. Turkey’s index value is even below the Middle East and Africa average of 0.71 in wealth inequality between women and men. Although the average of the index is 0.76 in the Asia Pacific and North America region, it should be noted that the region with the greatest equality is Europe with an average of 0.77. The Latin American average, on the other hand, falls to 0.67, but still remains above the value of the Turkish index.
THE LOSSES WILL CONTINUE
The index, produced by the global consultancy WTW together with the World Economic Forum, covers 39 countries. In summary, the value of the index for each country arises from dividing the wealth accumulated by women throughout their lives by the wealth accumulated by men. Values close to 1 indicate greater equality, while values close to 0 indicate a deepening of inequality.
The report highlighted that the pandemic has affected women’s income in a way that cannot be compared to that of men, and stated that the decrease in savings of women who had to stay home for the care of their children Follow. In this case, the wealth inequality between men and women was predicted to deepen in the coming years.
Equal pay for equal jobs
The results of the research clarified that there is a serious difference between the savings that men and women have obtained in their working life, which continues until retirement. The most important reasons for this difference were listed below: The lack of equal pay for equal work between women and men, the fact that women have fewer opportunities for promotion and therefore increase their salaries compared to men. men, and who have to take a break from their careers to care for children or the elderly. The report also stated that women’s tendency to take less risk also affects their investments and thus their wealth.