Benefits of women's economic empowerment
Women’s economic empowerment includes women’s ability to participate equally in existing markets; their access to and control over productive resources, access to decent work, control over their own time, lives and bodies; and increased voice, agency and meaningful participation in economic decision-making at all levels from the household to international institutions.
Below are some of the benefits from women's economic empowerment extracted from the UN Women, The Star and IFC.
Strengthen the economy - with more women involved in the workforce, productivity level, income equality and economic diversification also increase. World Bank also predicted that Malaysia's income per capita could grow by 26.2%. Stanford Social Innovation Review suggests that if women were to attain equal participation in the economy, they could raise global GDP by up to $28 trillion or 26 per cent in 2025.
Good for business - evidence shows that companies with gender-diverse boards generate a higher return on equity than those without. It is estimated that companies with three or more women in senior management functions score higher in all dimensions of organizational performance.
Achieving the Sustainable Development Goals - Empowering women in the economy and closing gender gaps in the world of work are key to achieving the 2030 Agenda for Sustainable Development.