In an annual study published by audit and tax firm Grant Thornton, the Philippines ranks second in the list of countries with the most number of female business leaders.
According to the study, called Women in Business, 39% of business leaders in the Philippines are women. The country is tied with Lithuania.
The top of the list is Russia, with 45% of business leaders consisting of women.
The study states that “Eastern Europe continues to top the rankings, with 35% of senior roles in the region held by women and just 16% of businesses with no women in senior management.”
This is a result of “the legacy of communist principles on equality. The maxim that men and women are equal partners seems to have sparked a trend within the business world that shows little sign of diminishing.” The study also noted how it is common for women to receive higher education, and that high-quality childcare benefits in the office allow them to progress.
Besides Eastern Europe, the ASEAN region also enjoys a good number of women in higher positions. Over “34% of senior roles are held by women and only 21% of businesses have no women in senior management.”
Marivic Espano, chairperson and CEO at Grant Thornton Philippines, suggests that “ASEAN’s strong performance may be in part because women in the region are well supported in terms of getting a good education, but also because they are organising themselves to identify the challenges women in business face and advocate for change.”
Joining Russia, the Philippines, and Lithuania in the top 10 are Estonia (37%), Thailand, (37%), Indonesia (36%), Latvia (35%), Poland (34%), China (30%), and Italy (29%).
Those at the bottom of the list are Japan (7%), Germany (15%), India (16%), Argentina (18%), Netherlands (18%), Mexico (18%), Brazil (19%), New Zealand (19%), Ireland (19%), and Turkey (20%).
The study also reports that globally, women leaders rose to 24%, from 22% last year. However, a third of businesses still don’t have women business leaders.
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