HONG KONG, CHINA - Media OutReach - 29 May 2019 - With Taiwan becoming the first Asian jurisdiction to legalise same-sex marriage this month, new research by The EIU shows that the march of LGBT equality is likely to continue. The report, Pride and Prejudice: Assessing Progress in Asia-Pacific, supported by Barclays, is based on a survey of 1,901 people around the world, including 339 from 21 Asian countries or territories. It includes sentiment surrounding LGBT rights in both broader society and the business community.
While progress in Asian companies may not be as rapid as in the Western world, positive changes are occurring. Compared with results from similar surveys conducted in 2015 and 2016, the share of Asia-Pacific executives who believe there are prominent LGBT advocates in their companies increased by six percentage points. Those who believe there is a return on investment (ROI) to LGBT-progress-raising measures grew by ten percentage points. And those who would like their firms to increase funding for LGBT diversity and inclusion shot up by 11 percentage points.
There are prominent LGBT advocates in my company (2015 v 2019)
There is a potential ROI/business opportunity in enacting LGBT-friendly workplace policies and practices (2016 v 2019)
I would like to see my company investing more in advancing progress in sexual orientation and gender identity diversity in the workplace (2015 v 2019)
2015 or 2016
In broader society, the prospect of same-sex marriage taking hold in Asia-Pacific is growing alongside deeper acceptance of LGBT people. Among those who believe the overall climate for LGBT rights in their country over the past three years has become more open, the top reason cited was change in policies and laws relating to LGBT people (38%), followed by coverage of LGBT issues in mainstream media (36%). Yet significant hurdles remain: the top reason cited by those who believe the climate for LGBT people in Asia-Pacific has become less open over the past three years was anti-LGBT advocacy by religious institutions, highlighting the need for greater appreciation of individual civil liberties among Asian social institutions.
Michael Gold, editor of the research, said: "These findings reinforce Asia's forward momentum on LGBT rights in light of Taiwan's historic legalisation of marriage equality. More action needs to be taken to move the needle for LGBT people in countries across the continent. Businesses have a crucial role to play, alongside governments, courts, civil society and the general public."
About the research Pride and Prejudice: Assessing Progress in Asia-Pacific is based on the fourth year of a global survey of attitudes surrounding LGBT rights. The panel consists of regular Economist readers who agree to participate in research panels; non-executives were included in order to present a broader swath of views. Only full-time employees answered questions relating to corporate diversity; all respondents answered questions relating to LGBT rights in broader society. Visit the Pride and Prejudice website for the full report and join the discussion at #EconPride.
About The Economist Intelligence Unit The EIU is the thought leadership, research and analysis division of The Economist Group and the world leader in global business intelligence for executives. We uncover novel and forward-looking perspectives with access to over 650 expert analysts and editors across 200 countries worldwide. More information can be found on www.eiuperspectives.economist.com. Follow us on Twitter, LinkedIn and Facebook.
Barclays is a transatlantic consumer and wholesale bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.
With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 83,500 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.
For further information about Barclays, please visit our website www.barclays.com.