Integrating LGBTI citizens could add $360mn to economies of Serbia and North Macedonia

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09/28/2023

New reports from the World Bank released on September 26 suggest that implementing policies to enhance the social inclusion of lesbian, gay, bisexual, transgender, and intersex (LGBTI) individuals could lead to more equitable and just societies while also benefiting the economies of North Macedonia and Serbia. The research estimates that integrating LGBTI people into the economy could potentially contribute approximately $360mn annually to the combined GDP of the two Western Balkan nations. The reports highlight that if barriers to entry in the labour market for LGBTI individuals were reduced, leading to decreased discrimination based on sexual orientation, gender identity, and sex characteristics, the annual GDP of North Macedonia and Serbia would rise by an average of 0.6%. This positive development would translate to an additional $64mn for North Macedonia and $293mn for Serbia.

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