The World Bank has delivered its latest economic report for the Pacific region, calling for more inclusive workforces to boost growth.
The report found the Pacific region's growth was seeing a downward trajectory, with a projected 2.6% expected for 2025, compared to 5.5% in 2023.
While inflation has eased somewhat it still remains above pre COVID pandemic levels, driving up the cost of living, and this is combined with a dependence on foreign aid and vulnerability to natural disasters, leaving many Pacific nation regions economically vulnerable.
The tagline for the report, Employ Women, Empower the Pacific - A Strategy for Uncertain Times, underscores a key issue in hampering growth: lack of inclusiveness.
The World Bank found that an average of just 42.7% of working-age women are active in Pacific labour markets, more than 15 percentage points lower than the men.
Difficulties getting women into the workforce include a lack of paid leave and childcare, as well as social norms seeing those who are working in lower paid jobs, with a clear underrepresentation of women in fields such as engineering.
“While Pacific nations can’t control global shocks, there is an opportunity to build stronger domestic foundations. Real economic resilience will come from addressing these long-standing challenges through structural reforms,” said Ekaterine Vashakmadze, a World Bank Senior Economist.
“Engaging more women in work is one of the highest-impact reforms Pacific governments can pursue.”
