Benefits of Economic Empowerment (UN WOMEN)
1. When women work, economies grow. An increase in female labor force participation, or a reduction in the gap between women's and men's labor force participating, results in faster economic growth.
2. Evidence from a range of countries shows that increasing the share of household income controlled by women, either through their own earnings or cash transfers, changes spending in ways that benefit children.
3. Increasing women and girls education contributes to higher econmic growth. Increased educational attainment accounts for about 50 per cent of the economic growth in OECD countries over the past 50 years, of which over half is due to girls having had access to higher levels of education and achieving greater equality in the number of years spent in education between men and women. But, for the majority of women, significant gains in education have not translated into better labor market outcomes.
4. A study using data from 219 countries from 1970 to 2009 found that, for every one additional year of education for women of reproductive age, child mortality decreased by 9.5 per cent.
Women tend to have less access to formal financial institutions and saving mechanisms. While 55 per cent of men report having an account at a formal financial institution, only 47 per cent of women do worldwide. This gap is largest among lower middle-income economies as well as in South Asia and the Middle East and North Africa.
Image: Bliss Feme Women, Kanyampara-Kamughobe, Kisinga sub-county, Kasese District