Source: Thomson Reuters Foundation

Women in the Group of 20 (G20) leading economies will not be paid as much as men until 2089, said a report published by Oxfam on Monday.

The report identifies South Korea, Brazil and Italy as the countries where women's wages are the lowest compared to men's, while India, Turkey and Saudi Arabia have the lowest participation of women in the workforce.

"The G20's growth and development can only be considered inclusive – and can only make a positive difference to people – when women and men have equal opportunities," said Winnie Byanyima, Oxfam International Executive Director.

"These are not 'women's issues' alone – they are systemic issues that determine the wellbeing of everyone, in rich and poor countries alike."

In none of the G20 countries do women earn more than 80 percent of the salaries paid to men. It will take 75 years for equal pay to be achieved if the current rate of convergence continues, according to data collected by the International Labour Organisation (ILO).

Collectively, the economies of the G20 - nineteen countries plus the European Union - represent 85 percent of world GDP.

Although bringing more women into the job market is economically beneficial, the converse is not necessarily true - economic growth does not automatically empower women.

India is cited an example of this - although the Indian economy has grown rapidly in recent years, women's participation in the labour force has declined, from 37 percent in 2004-5 to 29 percent by 2009-10.

This decline is partly due to women being unable to find the right opportunities and their concentration in economic sectors that are not growing, says the report.

Oxfam makes recommendations to the G20 to support economic growth which benefits all groups in society. These include reducing the time women spend doing unpaid care work by spending more on public services, incorporating gender considerations into macroeconomic policy, and ending discrimination against women in the workplace.

The report said the GDP of individual G20 countries could be boosted by an extra 20 to 60 percent if the hidden contribution of unpaid work, such as childcare and housework, was recognised and valued.

In the communiqué issued after the 2012 summit in Los Cabos, Mexico, G20 leaders resolved to take "concrete actions" to overcome the barriers hindering women's full economic and social participation.

G20 leaders will meet next in Brisbane, Australia in November.

"During the Australian presidency, the G20 has the chance to keep its promise – by working towards economic growth that is truly inclusive and promotes women's rights," said Byanyima.