New studies show significant economic benefits from advancing gender equality in leadership positions. Research finds closing the global gender gap correlates with increased GDP and competitiveness. Specifically, a McKinsey study found that achieving full gender parity could add $28 trillion to annual global GDP by 2025, equivalent to the economies of the US and China combined. Multiple stakeholders, including the private sector, must work together to drive meaningful change in promoting gender equality in society and the workplace to realize this economic opportunity.