This issues paper explores the economic cost of gender-based discrimination in social institutions. The paper reveals that discriminatory social institutions are holding back gender equality and are an impediment to economic growth, with a cost of up to USD 12 trillion for the global economy. The paper quantifies the economic costs of discrimination in social institutions, as well as the economic benefits of reducing gender-based discrimination in social institutions. It concludes by highlighting the importance of tackling discriminatory social institutions directly in national growth and development strategies and global development approaches.