WOMEN FOR GLOBAL GROWTH: NEED FOR WOMEN ECONOMIC EMPOWERMENT

Abstract

  Modern global economic development heavily relies on new technologies and unprecedented development of science creating more and more new innovative products and services. In such reality the demand for knowledge generation and improvement of resource efficiency is critical. More than ever, nations cannot afford to lose the skills, ideas and perspectives of women who are currently under-represented – in order to utilize the promise of a more prosperous and human-centric future that is to be come soon by contemporary innovations and technologies.
  New challenges for national economic policies generate new approaches which have to face these modern developments and trends. One of the efficient practices represents women promotion for a very simple reason: women yet are not fully engaged into development and their economic potential has to be unlocked to benefit not only economic goals but also social inclusion and human development to meet upmost goal of every state: inclusive growth and high level of welfare. In this regard, women promotion and their empowerment are key policy challenges. Nowadays the need for women advancement in all spheres of the society is clear and generates no doubts for reasonability and rationality of such approach to economic growth.
  Women contribution to the economy is vital and proved by different studies and researches. As data of different Institutions showed, there are no clear correlations of gender equality with some specific factors, though countries with high level of human development and economic development showed better results in terms of gender equality. The important message to be considered is that gender equality leads to smarts economics and creates sound base for resource efficiency and innovative development which is crucial for reaching higher competitiveness in global markets.