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Great Reset: Why LGBT+ inclusion is the secret to cities' post-pandemic success
Jun 3, 2020
• Economies that are more inclusive are better placed to recover from the shocks of the COVID-19 pandemic.
• A strong positive correlation exists between LGBT+ inclusion and economic resilience.
• In particular, cities that embrace diversity may reap an ‘inclusion dividend’ as they begin to rebuild their economies.
As the world continues to grapple with the unprecedented global health crisis of COVID-19, the scale of the related global economic crisis is becoming increasingly clear. We are facing the sharpest economic contraction since the Great Depression in the 1930s, according to the United Nations – threatening to roll back decades of progress in the fight against poverty.
At the same time as taking emergency measures to minimize the immediate economic impacts of the pandemic, governments around the world are looking to position themselves for recovery. A new analysis of economic resilience offers a potential clue to which economies may be able to recover faster: LGBT+ inclusion is correlated to the resilience of a country’s economy.
Have you read? During the coronavirus pandemic, we must fight for LGBTQ rights more than ever 3 ways businesses can protect LGBTIQ rights in the face of COVID-19 This is how coronavirus could reshape our cities forever
The analysis by Open For Business , a coalition of companies advancing LGBT+ equality, shows a strong positive correlation (0.67) between how resilient an economy is and how accepting it is of LGBT+ people (see the chart below). This is a significant finding: a one-point increase in social acceptance suggests a three-point increase in that economy’s economic resilience index, even when controlling for GDP per capita. Could LGBT+ inclusion be a secret ingredient for economic resilience?
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