Written by: Candice Tse | Goldman Sachs Asset Management
“What do you want to be when you grow up?”
The number of answers to a simple question should be endless. An astronaut. The shortstop for the New York Yankees. A world-class chef, or President of the United States. But for more than 1/3 of women in 2010,1 the answers were contained to ten occupations, including teachers, secretaries, retail salespeople, and housekeeping cleaners.
In 2023, we saw Womenomics2—the increasing impact and contribution of women to the global economy—drive a larger share of economic growth than ever before. Greta Gerwig’s Barbie was the highest grossing film of the year.3 The Sheila Ford Hamp-led Detroit Lions increased its franchise value by 43% year-over year bookended by two playoff games that created more than $100 million in economic impact.4 Taylor Swift won TIME person of the year twice, with consumer spending on costs associated with the Eras tour nearing $5 billion—higher than the annual GDP of 38 countries.5
We believe it is time for the world to fully embrace its SHEconomy era. Download our paper below to find out why.
Related: Advisors Need To Recognize the SHEconomy