The global gender gap will take 100 years to close at the current rate of progress, according to the World Economic Forum.
A new report, entitled Global Gender Gap Report 2017, has found that the global gender pay gap will take a century to close, compared to 83 last year.
The report also estimates that the workplace gender gap will now not be closed for 217 years.
The World Economic Forum’s Global Gender Gap Index ranks countries around the world for their gender gap, with Iceland still at the top having closed nearly 88 per cent of its gap.
After Iceland, Norway and Finland come in second and third respectively, while Rwanda, Sweden, Nicaragua, Slovenia, Ireland, New Zealand and the Philippines make up the top ten.
The UK currently ranks 15th, with France coming in top at 11th among the G20 group of countries.
The US has dropped four places to 49, with the report estimating that it will be 145 years before North America closes its gender gap.
Saadia Zahidi, Head of Education, Gender and Work, World Economic Forum, said, “In 2017 we should not be seeing progress towards gender parity shift into reverse.”
“Gender equality is both a moral and economic imperative.”
“Some countries understand this and they are now seeing dividends from the proactive measures they have taken to address their gender gaps.”
Klaus Schwab, Founder and Executive Chairman, World Economic Forum, said, “We are moving from the era of capitalism into the era of talentism.”
“Competitiveness on a national and on a business level will be decided more than ever before by the innovative capacity of a country or a company.”
“Those will succeed best, who understand to integrate women as an important force into their talent pool.”