WOMEN EMPOWERMENT

Women's Economic Empowerment - The contribution of women and women entrepreneurs to economic growth is widely recognized. However, the Women’s Economic Opportunity Index, which assesses the environment for women employees and entrepreneurs in 128 countries, shows that almost half of the world’s working age women are currently not active in the global economy.

Companies, NGOs and governments are increasingly recognizing women's economic participation as a gateway to household and community security. Concentrating on women as the harbingers of economic growth in developing regions makes sense because investing in women produces a multiplier effect – women reinvest a the majority of their income in their families and communities. Women also play key roles in creating peaceful and stable societies – which are essential for economic growth and prosperity.

The index, put together by the Economist Intelligence Unit (EIU), is based on 29 indicators that evaluate women’s access to finance, education and training, legal and social status, and the general business environment. The EIU index report highlights the fact that action needs to be taken by governments worldwide in order to remove the legal, social, educational, and financial barriers and expand opportunities for the 1.5 billion women that do not participate in the formal economy.

While there are many differences in terms of geography, economic conditions, demographics and education, common barriers include poverty, limited or non-existent access to education, social norms, cultural gender roles, and weak political and civil rights. Additionally, women face obstacles to doing business such as “financing, level of taxation, bureaucracy, finding business contacts, lack of a modern technological infrastructure, an absence of information and locating qualified personnel.

One way to overcome such obstacles is to join forces with like-minded women to to join IICCI and create organizations that improve women’s opportunities.