Overview

This paper contributes to the evolution and acceleration of the global care agenda by taking stock of the state of the care economy at the beginning of 2024 and surfacing new perspectives to release its economic potential. It is unique in its global approach and its emphasis on public-private collaboration. It details the ways in which care is critical to addressing longstanding inequities as well as to fuelling growth. The paper subsequently lays out the interlinkages between the public sector, private sector and civil society that stakeholders can use to strengthen care economies. It advances a set of design principles and highlights key success factors observed in existing models. Finally, it surfaces promising practices implemented by a range of stakeholders that can support the exploration of meaningful investments and the striking of key partnerships. It argues that a well designed care economy will achieve: higher levels of productivity and growth; higher levels of gender parity; higher levels of workforce participation; higher levels of educational attainment; higher business profitability and efficiency; lower levels of inequality; lower long-term social expenditure.