Australia ranks 43rd in the Global Gender Gap Report: How can you get equal?

The annual World Economic Forum Global Gender Gap Report is out for 2022 and the results might come as a surprise to some Aussies, with us ranking a meagre 43rd.
This report considers the gap across several key categories, including education, opportunity and empowerment, among several other factors.
Gender might be broader than just male and female, but the report uses it to establish a baseline for where 146 nations stand in respect to each other.
Closing the gender gap by 73.8%, Australia is roughly a third of the way through the global chart. It’s a jump upwards from our 2021 ranking of 50th, but remains considerably lower than our closest neighbours.
New Zealand is the only country in the Asia Pacific region to sit amongst the top 10. Sitting in 4th, New Zealand has closed 84.1% of the gap in gender disparity. A high proportion of women in ministerial positions and parliamentary roles likely gives them the edge, as with many of the countries in the top ten.
Which countries are the closest to gender equality?
By the World Economic Forum’s calculation of how close to parity they are, the top ten countries are:
- Iceland (90.9%)
- Finland (86%)
- Norway (84.5%)
- New Zealand (84.1%)
- Sweden (82.2%)
- Rwanda (81.1%)
- Nicaragua (81%)
- Namibia (80.7%)
- Ireland (80.4%)
- Germany (80.1%)
These are ranked on the basis of four categories: Health and Survival, Educational Attainment, Economic Participation and Opportunity, and Political Empowerment. The most improvement was shown in Vanuatu, Kenya and Saudi Arabia.
In 43rd position with all factors considered, we also lag behind the US (27th), UK (22nd), South Africa (20th), Mexico (31st), Spain (17th), and the Philippines (19th).
At current rates of progress, it will take approximately 132 years to reach total gender parity. Don’t despair - in some aspects, we’re very nearly there.
Where can Australia improve our gender equity?
Thankfully, Australia is close to parity when it comes to Health and Survival as well as Educational Attainment. When it comes to the rights tracked, from divorce and reproductive rights to freedom of movement and access to higher education, Australia stands in good stead.
Where we are lacking is in wage equality, with the pay gap being alive and well across Australian industries (at nearly 13%). We also lack representation of women in government leadership when compared to high-ranking countries, as well as a high incidence of domestic violence.
Australia is moving closer to parity when it comes to economic participation. Women are more prevalent in care work (paid and unpaid), education and personal well-being while STEM (science, technology, engineering and mathematics) fields remain male-dominated. Thankfully, we are seeing these trends begin to become unseated.
How can I get even with my finances?
If moving to NZ isn’t an option, you might be wondering how you can get even with your own finances.
With wealth accumulation set off balance by unequal career trajectories and the burden of care placed on women, it’s especially important to stay informed and financially savvy. Discussing your salary, knowing how and when to ask for more money, and being a sensible saver will pay back in droves.
Starting off on unequal footing makes it all the more important to save wisely, pay attention to your super and do your research. Don’t let long-held gender gaps in financial literacy carry on.
Want to know how else Australia stacks up to the rest of the world? Read about our attitudes towards finance. Figure out how to keep the cost of living under control with our guide to creating a budget.
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Save Account
Maximum rate
standard interest rate
Govt Deposit Guarantee
2.35% p.a. (for $0 to $250,000)0.10% p.a.(for $0 and over)Yes up to $250,000Deposit at least $200 to either Spend or Save account from an external source each month.
Save Account
Earn up to 1.85% p.a in interest. No monthly fee to pay. Split your money in up to 10 Save accounts. Track your progress on each of your save accounts. Instant access to cash via PayID and Osko. Deposits guaranteed up to $250k per customer.
- account fee per month
- $0.00
- Maximum rate conditions
- Deposit at least $200 to either Spend or Save account from an external source each month.
- Access
- Internet banking
- Minimum balance
- $0.00
- Other restrictions
- Bank and saving account only accessible through iOS or Android app.
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Boost Saver with Go Account
Maximum rate
standard interest rate
Govt Deposit Guarantee
2.30% p.a. (for $0 to $250,000)0.05% p.a.(for $0 and over)Yes up to $250,000Bonus rate of 2.30% is made up of the Base rate of 0.05% and Bonus rate of 2.25%. Deposit $2,000 each month and make 5 eligible payments from your Go Account. If you are between 18 and 25 deposit $1,000.
Boost Saver with Go Account
Enjoy a high interest savings account bundled with an everyday spending account. No monthly fees. And new customers can get a welcome bonus of 5,000 bonus Virgin Money Points (ends 31/08/22. Offer criteria & T&Cs apply).
- account fee per month
- $0.00
- Maximum rate conditions
- Bonus interest 2.30% is made up of the Base rate of 0.05% and Bonus rate of 2.25%. It only applies when you deposit $2,000 into your Go Account and make 5 debit card purchases, direct debit or BPAY payments in the previous month. If you are between 18 and 25 you need to deposit $1,000 and fulfil the other criteria.
- Access
- BPay, Internet banking
- Minimum balance
- $0.00
- Other restrictions
- Bank and savings account only accessible through iOS or Android app.
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Life - 18-29 years old
Maximum rate
standard interest rate
Govt Deposit Guarantee
2.75% p.a. (for $0 to $30,000)0.65% p.a.(for $0 and over)Yes up to $250,000Make 5 card purchases/month with a Westpac Choice account and min 1 deposit and higher balance than at the beginning of the month in Life savings account.
Life - 18-29 years old
Are you 18 - 29 years of age? Earn up to a generous 2.75% p.a. variable interest on your savings when you spend and save with Westpac. For individuals aged 18 to 29 on Westpac Life account balances up to $30k.
- account fee per month
- $0.00
- Maximum rate conditions
- Make 5 card purchases/month with a Westpac Choice account and min 1 deposit and higher balance than at the beginning of the month in Life savings account.
- Access
- BPay, Branch access, Phone banking, Internet banking
- Minimum balance
- $0.00
- Other restrictions
- Must hold a Westpac Choice transaction account. If 5 card purchases are made each month, but savings account balance hasnt increased, a 2.05% interest rate still applies.
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Bonus Saver Account
Maximum rate
standard interest rate
Govt Deposit Guarantee
2.10% p.a. (for $0 to $250,000)0.05% p.a.(for $0 and over)Yes up to $250,000Bonus rate when at least $20 is deposited each month and five Visa Debit transactions are made each month using linked Glide transaction account.
Bonus Saver Account
Winner of a Mozo Experts Choice Award 2022 in the Regular Saver category. No monthly account fees. Available only on balances up to $250,000.
- account fee per month
- $0.00
- Maximum rate conditions
- Bonus rate when at least $20 is deposited each month and five Visa Debit transactions are made each month using linked Glide transaction account.
- Access
- Phone banking, Internet banking
- Minimum balance
- $0.00
- Other restrictions
- Must link to a transaction account
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Grow Saver
Lock Saver Feature
Maximum rate
standard interest rate
Govt Deposit Guarantee
1.80% p.a. (for $0 and over)0.05% p.a.(for $0 and over)Yes up to $250,000Make at least 1 deposit per month and no more than 1 withdrawal, including internal transfers or external payments. Must enable the Lock Saver feature. 32 days notice for withdrawal and T&C's apply.
Grow Saver
Pay no monthly fees. Set-up to 9 personalised savings accounts and choose to lock as many accounts as you like to earn the maximum variable interest rate. With just 32 days notice to access your money again, your future self will thank you.
- account fee per month
- $0.00
- Maximum rate conditions
- Bonus rate is made up of the Base interest rate of 0.05%, Bonus interest rate of 1.45% and Notice interest rate of 0.30%. Make at least 1 deposit per month and no more than 1 withdrawal, including internal transfers or external payments. Must enable the Lock Saver Feature. 32 days notice for withdrawal and T&Cs apply.
- Access
- -
- Minimum balance
- $0.00
- Other restrictions
- Savings account only accessible through iOS or Android app. Daily ATM withdrawal limit not applicable.
Read our Mozo Review to learn more about the Grow Saver
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