Women’s economic empowerment is increasingly recognised as critical to achieving larger development goals such as economic growth, poverty reduction, health, education, and welfare, as well as realising women’s rights. Economic empowerment is one of the most effective ways for women to realise their full potential and promote their rights.
How is economic empowerment for women defined?
Economically empowered women make a greater contribution to their families, society, and national economies. Women have been found to spend more income on their children, thus paving their way for long-term growth. A woman is financially capable when she has the ability to achieve and advance economically as well as the ability to make and follow through on financial decisions.
Advantages of monetary strengthening
Women’s economic empowerment includes the ability of women to participate equally in existing markets; access to and control over productive resources; access to decent work; and increased voice, agency, and meaningful participation in economic decision-making at all levels. Further, women’s economic empowerment promotes productivity, diversifies the economy, and increases income equality, among other good development consequences.
To conclude, women’s economic empowerment is the most smartest thing to do for strengthening woman and society. If a woman is empowered, that too financially, it will help and maintain human rights in general, thus creating equal society.