What is Womenomics?

5 min read

It’s a world-changing philosophy, a political strategy and it’s central to what we do at IE University. But what is Womenomics? And where does it come from?

Let’s find out.

What is the meaning of Womenomics?

Broadly speaking, it’s a concept that advocates for women in the workforce. The benefits go beyond economic return—offering positive impacts on aging populations, declining birth rates or other issues that require social welfare improvements.

Womenomics stemmed from the prolonged economic stagnation of 1990s Japan. This “lost decade” came after the boom of the 80s, after which the Japanese government raised interest rates to stabilize the economy. Economic growth plateaued and Japan set out for solutions.

As for who coined Womenomics, we can thank Kathy Matsui. Back in 1999, Matsui was in search of ways to boost the Japanese economy in conjunction with her role as vice chair and chief Japan strategist for Goldman Sachs. The fruits of her research? A report named: “Womenomics: Buy the Female Economy”. Matsui used the report to reframe low fertility rates and female employment as an obstacle to economic growth. Since then, Goldman Sachs has published a number of offshoot reports including “Womenomics: Japan’s Hidden Asset” (2005), “Womenomics 3.0: The Time Is Now” (2010), and “Womenomics 4.0: Time to Walk the Talk” (2014).

How can Womenomics improve the economy?

While the theory existed and evolved across several years, we didn’t see any practical results from Womenomics until Prime Minister Shinzo Abe applied real policies in 2013—such as the implementation of improved parental leave benefits and equal pay mandates.

Womenomics works. In fact, 2019’s “Womenomics 5.0.” estimates that closing Japan’s gender employment gap would boost the country’s GDP by 10%—rising to a possible 15% if the female vs. male working hours rises to the OECD average. Which begs the question: Why limit this to only one country? With the 2024 Global Gender Gap Report’s estimating that gender parity waits some 134 years away, the goal of increasing women’s workforce participation should be on every country’s agenda.

Why does the world need Womenomics?

A diversified workforce means a place where different skills and perspectives nourish each other. It also means lightening the burden on men in traditionally gendered societies, with a more evenly shared sense of financial responsibility. By incentivizing women to join the workforce, economies double their access to human labor resources.

Think about this: The World Bank says that if women worked as much as men, long-term income per person could rise by nearly 20%. Closing the gender gap might add up to 7 trillion USD to the global economy. In middle-income countries, especially in the Middle East, North Africa and South Asia, closing these gaps could boost GDP per person by 40-80%. The report emphasizes the strong economic gains from increasing women’s participation in the workforce in South Asia.

So, can the world really afford not to take Womenomics seriously?

How are IE University participating in Womenomics?

IE Women’s Unit is working to boost the number of women in underrepresented fields. That includes raising awareness for girls in STEM, finance and leadership roles—by showing how impactful careers can complement fulfilling personal lives. We know that IE University is uniquely positioned to change perceptions as an institution of educators, alongside presenting great opportunities through its ties with South Summit. So leveraging the role of women across industries is something we consider a core responsibility.

Womenomics 2025 with Above & Beyond

IE University recently collaborated with Above & Beyond Group for the Womenomics Global Summit 2025 in Copenhagen. “Our partnership with Womenomics reflects IE University’s deep commitment to redefining leadership for a more sustainable future. Through ongoing initiatives—such as the IE Women’s Unit—we’re transforming values into action and empowering leaders to foster meaningful, positive change,” said Mar Hurtado de Mendoza Crespo, Vice President for Global Recruitment and Marketing and IE Women’s Unit Leader.

The summit took place this month at the Royal Danish Opera in Copenhagen. With over a thousand participants from all over the world, the event focused on inclusive leadership. Experts spoke on the risk of economic and social stagnation if pro-woman progress is reversed.

What did we learn?

The event kicked off with a talk from Tine Arentsen Willumsen, who emphasized the ongoing need for gender equality. Women own 32% of global wealth, projected to rise to 38% by 2030. However, the OECD gender pay gap is still 13%. Leaders can help by building resilient organizations that recognize bias: “Inclusive leadership is the blueprint for sustainable success.”

Rafif Srour from IE University also joined a panel with Claes Westerlind, Barbara Burghardt, Charlotte Slente and Naveed Niwaz, moderated by Clement Kjersgaard. They discussed how value-driven leadership can help navigate crises, with purpose acting as an anchor amid uncertainty. As AI begins to influence public policy, Rafif emphasized the need for courageous leadership.

Another key topic was Sarah DiMuccio’s call for men to help shape inclusive cultures—a perspective shared by IE Women’s Unit. Sarah explained that traditional masculinity often discourages vulnerability and encourages competition over connection. Challenging these norms is key to fostering real change: “When we think about DEI, some can often think about it being by women, for women, or by minorities, for minorities. But if we want to succeed in DEI, we need to engage men in this too… This is not about rejecting performance. It is about changing a culture.”

Join us at IE University

At IE University, we are passionate about empowering women to reach their full potential. We believe in the power of connection—within yourself, your community, and the world—to create lasting impact. Our top-tier education, combined with a vibrant network and numerous initiatives, provides women with the tools, support, and opportunities they need to succeed. From understanding your strengths to building meaningful relationships globally, we give you a springboard for growth and success.

Join a university committed to real change and inclusive leadership. We see supporting women as part of a larger mission: Creating a future where everyone is equal and can contribute to building a better, sustainable world. Discover how IE University can help you rise and make your mark.