Investing in Women’s Economic and Political Empowerment

When women are fully empowered, they can help drive economic growth. This is why governments, businesses and individuals must invest in women and girls.

Gender equality is an ethical imperative for human development. But it’s also good business. Research shows that investing in women boosts economies and drives social progress, including economic and political empowerment.

Women are half the world’s population and therefore, they represent half its potential. Yet, even today women remain under-represented in politics and the economy. This is due to systemic and structural barriers that must be addressed in order to achieve gender equality, which is a fundamental right and necessary for peace, sustainable development and prosperity for everyone.

During the 19th and 20th centuries people agitated for women’s suffrage, and this became a global movement that brought about a number of milestones for women. Some countries, such as New Zealand became the first to give women the vote on a national level. This momentum continued in the 1970s when the United Nations ratified the Convention on the Elimination of All Forms of Discrimination against Women, which requires states to implement laws to eliminate discriminatory practices that deny women their rights and reduce the disparities between men and women.

Many of these milestones have had a significant impact on women’s lives. For example, the Equal Credit Opportunity Act of 1974 prohibited financial institutions from discriminating against women in credit and loan approvals. California was the first state to legalize no-fault divorce, which removed the requirement for women to prove that their husbands committed wrongdoing (such as adultery) before obtaining a divorce.

However, a majority of people in most countries say there is still work to be done to ensure women have equal rights with men. Specifically, when asked about what a society with gender equality would look like, 45% of those surveyed say it would mean equal pay. In addition, 19% say it would mean no discrimination in hiring and promotion, and 5% say that it would mean paid leave and maternity support.

But a larger share of Democrats than Republicans point to not having enough women in positions of power, women not having the same legal rights as men, sexual harassment and different societal expectations as major obstacles to giving women equal rights with men. Among those with at least a college degree, 59% point to granting women the right to vote as the most important milestone for advancing women’s rights.

The vast majority of people in most countries agree that it is important for women and men to have the same rights in their country. This sentiment is strongest in Sweden, the Netherlands, France, Australia and Canada, where 90% or more say this is very important. But, in a handful of countries, majorities have declining views on this question: In the US, for instance, a smaller share now says it is very important that women and men have the same rights, while in Poland, Hungary and South Korea there are declines in the share who think this is very important.