**Fatshimetrie: The Thriving Economy of Diversity**
Diversity is a powerful economic driver in South Africa. According to a study commissioned by The Other Foundation, the country’s LGBTI market, comprising lesbian, gay, bisexual, transgender and intersex people, contributes at least R250 billion to the economy each year. This figure represents a 20% increase from the 2017 estimate, highlighting the significant impact of the LGBTI community on the South African economy.
In this study, a triangulated methodology was used, taking into account macroeconomic indicators such as nominal private consumption, employment rates and labour productivity, as well as quantitative data collected by market researcher Ipsos South Africa on the economic profile of 400 respondents. These findings offer new insights into the economic influence of LGBTI people in South Africa and allow for a definitive quantification of the LGBTI market.
The majority of study participants identified as men (56%), women (31%), gay (47%), or lesbian (19%). While men and queer identities predominate in this data, it is important to note that gender and sexual orientation diversity is a critical component of the LGBTI community.
The financial resilience of LGBTI individuals is also a highlight of the study. Despite the systemic barriers they face, many members of the LGBTI community demonstrate strong participation in the workforce, with 90% of respondents involved in income-generating activities and 75% employed part-time or full-time.
Additionally, 15% of respondents are active entrepreneurs, with more than half of them running businesses that have been in operation for more than five years. These numbers demonstrate not only the economic commitment of the LGBTI community to their own households, but also to society as a whole.
It is also essential to highlight the leadership role played by LGBTI professionals in the workplace. Forty-four percent hold managerial positions and 36% supervise teams of five or more, demonstrating their influence and ability to lead.
Despite these advances, many challenges persist for the LGBTI community in South Africa. According to the 2021 South African Workplace Equality Index, participating companies scored an average of 59% in terms of LGBTI inclusion, which shows an improvement from the previous year but also reveals the need to further transform institutional cultures and create truly inclusive work environments for LGBTI professionals..
Ultimately, South Africa is transitioning towards a more inclusive and accepting society of sexual diversity. A 2016 study showed an increase in the acceptance of homosexuality and gender non-conformity, particularly among more progressive, urban and youthful segments of society. These positively evolving trends provide hope for a more diverse and equal society.
The Other Foundation’s study and the findings it presents highlight the importance of recognising and supporting diversity, not only for moral reasons, but also for their significant contribution to the South African economy. Diversity is not only a rights issue, it is also a valuable economic asset that deserves to be fully valued and celebrated.