Economic empowerment is the capacity of women and men to participate in, contribute to and benefit from growth processes in ways which recognize the value of their contributions, respect their dignity and make it possible to negotiate a fairer distribution of the benefits of growth.
Economic empowerment increases women’s access to economic resources and opportunities including jobs, financial services, Property and other productive assets, skills development and market information.
Women’s economic participation and empowerment are fundamental to strengthening women’s rights and enabling women to have control over their lives and exert influence in society. Across the world, women contribute enormously to economies. Women work in businesses, on farms, as entrepreneurs or employees, and do care and domestic work in homes. They are also essential to agriculture, yet women's economic contribution often isn't appreciated. Moreover, discrimination, poverty and exploitation restrict women from taking part equally in the economy.
It is about creating just and
equitable societies. Women often face discrimination and persistent gender
inequalities, with some women experiencing multiple discrimination and
exclusion because of factors such as ethnicity. Women have the potential
to change their own economic status, as well as that of the communities and
countries in which they live. Yet more often than not, women’s economic
contributions go unrecognized, their work undervalued and their promise unnourished.
Unequal opportunities between women and men continue to hamper women’s ability to lift themselves from poverty and gain more options to improve their lives. Inequalities persist in the way paid and unpaid work is divided between women and men; in the fact that women remain the sole caregivers at home,
When women aren't reaching their potential in the world of work, it affects not just their own lives but makes whole societies poorer. As well as being a right, women's empowerment brings with it economic and social benefits for entire populations. If women's paid employment rates were raised to the same level as men's, economies would grow
Just imagine what the world would look like if women and men were equally appreciated and treated in the economy?