10 Facts & Figures: Economic Empowerment
To mark Canada's first Gender Equality Week 2018, MEDA is highlighting important issues and voices around women’s economic empowerment and gender equality in the area of economic development. This is the second installment of our #EveryoneBenefits blog series. This is list is sourced from UN Women's Facts and Figures: Economic Empowerment page.
- When more women work, economies grow. An increase in female labour force participation—or a reduction in the gap between women’s and men’s labour force participation—results in faster economic growth.
- Evidence from a range of countries shows that increasing the share of household income controlled by women, either through their own earnings or cash transfers, changes spending in ways that benefit children and communities.
- Women tend to have less access to formal financial institutions and saving mechanisms. While 55 per cent of men report having an account at a formal financial institution only 47 per cent of women do worldwide. This gap is largest among lower middle-income economies as well as in South Asia and the Middle East and North Africa.
- Women's economic equality is good for business. Companies greatly benefit from increasing leadership opportunities for women, which is shown to increase organizational effectiveness. It is estimated that companies with three or more women in senior management functions score higher in all dimensions of organizational effectiveness.
- Women comprise an average of 43% of the agricultural labour force in developing countries, varying considerably across regions from 20 per cent or less in Latin America to 50 per cent or more in parts of Asia and Africa. Despite regional and sub-regional variations, women make an essential contribution to agriculture across the developing world.
- Women farmers control less land than do men, and also have limited access to inputs, seeds, credits, and extension services. Less than 20 per cent of landholders are women. Gender differences in access to land and credit affect the relative ability of female and male farmers and entrepreneurs to invest, operate to scale, and benefit from new economic opportunities.
- Women are responsible for household food preparation in 85-90% of cases surveyed in a wide range of countries.
- 128 of 143 countries have at least one legal difference restricting women's economic opportunities.
- More than 90% of farms are run by an individual or a family and rely primarily on family labour.
- Solid empirical evidence shows that if women farmers used the same level of resources as men on the land they farm, they would achieve the same yield levels. The yield gap between men and women averages around 20–30 percent, and most research finds that the gap is due to differences in resource use.