Equity, Diversity and Inclusion

COVID-19 has cost the world’s women $800 billion in lost income

image of a woman waiting for the tube

According to Oxfam Executive Director Gabriela Bucher, the pandemic has "dealt a striking blow" to recent gains for women in the workforce Image: Unsplash/Eutah Mizushima

Sophia Sun
Journalist, Thomas Reuters
Our Impact
What's the World Economic Forum doing to accelerate action on Equity, Diversity and Inclusion?
The Big Picture
Explore and monitor how Pandemic Preparedness and Response is affecting economies, industries and global issues
A hand holding a looking glass by a lake
Crowdsource Innovation
Get involved with our crowdsourced digital platform to deliver impact at scale
Stay up to date:

Pandemic Preparedness and Response

  • According to Oxfam, COVID-19 has caused women around the world $800 billion in lost income.
  • Some governments have already taken steps to address women’s economic and social security.
  • A fair and sustainable economic recovery from the pandemic must include women and address their needs.

The COVID-19 crisis cost women around the world $800 billion in lost income in 2020, Oxfam said, as it demanded steps to tackle gender inequality.

Women, overrepresented in low-paid, precarious sectors like retail, tourism and food services, lost more than 64 million jobs last year, said the charity, a 5% total loss, compared to a 3.9% loss for men.

The pandemic has "dealt a striking blow" to recent gains for women in the workforce, said Oxfam Executive Director Gabriela Bucher, in a written statement.

Have you read?

The $800 billion figure, based on International Labor Organisation data, likely underestimates the total cost shouldered by women since it does not include wages lost by millions of women in informal jobs.

The big picture:

COVID-19 unleashed an economic storm that has hit the poor and vulnerable hardest. Women lost their jobs at a faster rate than men due to many women working in hard-hit industries like restaurants and hotels.

Women in the informal economy lost out due to having little or no health care, unemployment benefits or other protections.

What are the key figures?

- Even before the virus struck, women and girls put in 12.5 billion hours of daily unpaid care work - from cooking and cleaning to caring for sick relatives - a contribution to the global economy of at least $10.8 trillion a year.

- An additional 47 million women worldwide are expected to fall into extreme poverty, living on less than $1.90 a day in 2021.

- In the U.S., one in six women of color are facing food insecurity because of the pandemic.

- According to the World Economic Forum, closing the global gender gap has increased by a generation from 99.5 years to 135.6 years due to negative outcomes for women in 2020.

What is being done?

Some governments have taken steps to address women’s economic and social security.

U.S. states are getting $39 billion from the federal government to support child care, part of a $1.9 trillion relief package that President Joe Biden signed in March.

New legislation in Argentina offers flexible work schedules to those caring for children or the disabled.


What's the World Economic Forum doing about the gender gap?

Only 11 countries have introduced shorter or flexible work arrangements for workers with care responsibilities, while 36 have strengthened family and paid sick leave for parents and caregivers, said Oxfam.

"As we move from emergency measures to long-term recovery, governments around the world must seize this opportunity to build more equal, more inclusive economies for all," said Bucher.

"A fair and sustainable economic recovery is one that supports women's employment and unpaid care work through strong social safety nets and vibrant care infrastructures. Recovery from COVID-19 is impossible without women recovering."

Don't miss any update on this topic

Create a free account and access your personalized content collection with our latest publications and analyses.

Sign up for free

License and Republishing

World Economic Forum articles may be republished in accordance with the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, and in accordance with our Terms of Use.

The views expressed in this article are those of the author alone and not the World Economic Forum.

Related topics:
Equity, Diversity and InclusionHealth and Healthcare Systems
World Economic Forum logo
Global Agenda

The Agenda Weekly

A weekly update of the most important issues driving the global agenda

Subscribe today

You can unsubscribe at any time using the link in our emails. For more details, review our privacy policy.

This is how AI can empower women and achieve gender equality, according to the founder of Girls Who Code and Moms First

Kate Whiting

May 14, 2024


About Us



Partners & Members

  • Join Us

Language Editions

Privacy Policy & Terms of Service

© 2024 World Economic Forum