Gender disparities in financial inclusion: promoting women’s economic empowerment in G20 countries for sustainable development

Purpose Gender disparities in financial inclusion hinder women’s economic empowerment and constrain global economic growth. This study examines the evolution of financial inclusion gaps between men and women across G20 countries from 2017 to 2021, investigating gender disparities in seven key segments: financial institution account ownership, saving and borrowing behavior, debit/credit card ownership, digital payments and online financial activities. By leveraging data from the Global Findex Database 2021 and employing descriptive statistics and Wilcoxon rank-sum tests, this study aims to determine whether significant gender gaps exist in financial access and usage. Design/methodology/approach This study analyzes gender disparities in financial inclusion across G20 countries. Utilizing data from the Global Findex Database 2021 and employing descriptive statistics and Wilcoxon rank-sum tests, the study found no statistically significant gender differences across the examined variables in the G20 sample, contrasting with global trends indicating persistent gender gaps. However, country-level analysis revealed notable disparities, particularly in Saudi Arabia, Turkey and Brazil. Findings The findings highlight the necessity of targeted measures to close the gender gap, such as financial literacy initiatives, broader digital access, trust-building efforts and the development of gender-responsive financial products. The study supports the policy approaches of the World Economic Forum and the Global Partnership for Financial Inclusion, stressing the critical role of regulatory reforms, digital financial services and collaborative partnerships in advancing women’s financial inclusion. Practical implications The study underscores the urgent need for policy-driven actions to close gender gaps in financial inclusion. Governments and financial institutions should expand digital access, improve financial literacy and develop gender-sensitive products to empower women. Strengthening regulations, fostering public–private partnerships and using gender-disaggregated data—especially in Saudi Arabia, Turkey and Brazil—can create inclusive financial ecosystems. Trust-building initiatives and fintech innovations are also key to ensuring women’s equitable access to digital payments, credit and other services. By addressing these areas, G20 countries can advance gender equality in digital finance, economically empower women and support sustainable development aligned with the UN’s Sustainable Development Goal 5. Originality/value This study offers a unique contribution by analyzing gender disparities in financial inclusion exclusively within G20 countries from 2017 to 2021, using Global Findex Database 2021. Unlike prior research that highlights persistent global gender gaps, this study finds no significant disparities at the G20 level, while uncovering country-specific differences in Saudi Arabia, Turkey and Brazil. The study employs a Wilcoxon rank-sum test, providing a robust statistical approach. Furthermore, it aligns with the World Economic Forum and the Global Partnership for Financial Inclusion frameworks, offering policy-relevant insights and practical recommendations. These findings contribute to the evolving discourse on digital financial inclusion and gender equity in high-impact economies.