Offering childcare in the workplace has an economic impact on societies and companies, which benefit from staff retention, productivity gain and improvement in recruitment, a new report reveals.
The study, published by International Finance Corporation (IFC), the private sector lending arm of the World Bank Group, drew its conclusions based on 10 case studies of companies around the world. The firms included the Japanese lender The Bank of Tokyo-Mitsubishi UFJ, the Jordanian garment manufacturer MAS Kreeda Al Safi-Madaba and the Turkey-based automotive component maker Martur.
"We have surveyed many countries around the world and surveyed many companies around the world and we have seen the impact of childcare on the productivity of the companies, on retention and on profitability of these companies," said Mouayed Makhlouf, the regional director for the IFC.
A study conducted by Women UN in 2012 in 30 developing and developed countries found that women devote more time to housework and childcare, with difference ranging between 50 per cent more in Cambodia to three times more in Italy.
“One of the things that we have been supporting and pushing which leads to economic growth in most of these countries is the gender agenda,” said Mr Makhlouf.
Improving women’s working conditions is conducive to economic prosperity, according to the consultancy McKinsey.
Nearly US$12 trillion could be added to global GDP by 2025 by promoting women’s equality and the public, private and social sectors will need to act to close gender gaps in work and society, it said.
“The driver for us in all of this really is economic growth,” said Mr Makhlouf. “Having better economic policies in a country is linked to gender, it is linked to equal business opportunities for women.”
The current participation rate for women in the global workforce is just over 49 per cent, nearly 27 percentage points lower than the rate of men, according to the ILO.
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
Fixtures
Sunday, December 8, Sharjah Cricket Stadium – UAE v USA
Monday, December 9, Sharjah Cricket Stadium – USA v Scotland
Wednesday, December 11, Sharjah Cricket Stadium – UAE v Scotland
Thursday, December 12, ICC Academy, Dubai – UAE v USA
Saturday, December 14, ICC Academy, Dubai – USA v Scotland
Sunday, December 15, ICC Academy, Dubai – UAE v Scotland
Note: All matches start at 10am, admission is free
The specs: 2018 Volkswagen Teramont
Price, base / as tested Dh137,000 / Dh189,950
Engine 3.6-litre V6
Gearbox Eight-speed automatic
Power 280hp @ 6,200rpm
Torque 360Nm @ 2,750rpm
Fuel economy, combined 11.7L / 100km
Getting there
The flights
Flydubai operates up to seven flights a week to Helsinki. Return fares to Helsinki from Dubai start from Dh1,545 in Economy and Dh7,560 in Business Class.
The stay
Golden Crown Igloos in Levi offer stays from Dh1,215 per person per night for a superior igloo; www.leviniglut.net
Panorama Hotel in Levi is conveniently located at the top of Levi fell, a short walk from the gondola. Stays start from Dh292 per night based on two people sharing; www. golevi.fi/en/accommodation/hotel-levi-panorama
Arctic Treehouse Hotel in Rovaniemi offers stays from Dh1,379 per night based on two people sharing; www.arctictreehousehotel.com
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
