10 Key Benefits of Gender Equality for Society & Economy

The benefits of gender equality have long been recognized by researchers and policy-makers. Yet inequality is prevalent across nations. Even women in developed countries face gender discrimination in their daily life. The World Economic Forum’s report on the Global Gender Gap 2023 states that “It will take another 131 years to reach gender parity”.

The time frame of 131 years shows us the journey we still have to go. Even though gender equality is a basic human right. Still, women living in this modern era face inequalities. Girls and women across the globe are fighting to get equal rights. Despite the fact that many studies have stressed the importance of gender equality. 

The benefits of gender equality are not only limited to women but it has a widespread impact on homes, communities, and societies. Below you will learn 12 Benefits of Gender Equality that Everyone Should Know!

1. Gender Equality Fosters Education

Gender equality is a main driver that fosters education. In many parts of the world girls and young women face discrimination and they don’t have equal access to education. Lack of education is a strong barrier to living a prosperous life. 

On the other hand, an educated woman is aware of her rights. She is empowered to avail the opportunities that can improve her financial conditions. She is also aware of the associated challenges. The children of educated women are more likely to be healthy, educated, and live a prosperous life.

2. Gender Equality Improves Health

Educated women are more likely to be empowered and have access to health facilities. But this may not be true for all societies. In some societies, women still face discrimination to go to a hospital, see a doctor, and get medicine. 

Despite that, sexism and biasness in medical research can also be a cause for discrimination in health care services. 

An individual’s good physical health is a sign of good mental health. Good health positively impacts the productivity of a man or a woman. Therefore, gender equality can lead to better health of women that can increase productivity, positive attitude, and improved well-being. 

3. Gender Equality is Good for Business

One important benefit of gender equality is that it increases profitability. Diversity in a business is an important ingredient that improves innovation and creativity. 

Women who become part of the workforce share a new gender perspective. It helps companies and businesses to adopt gender-inclusive policies, products, and services. This practice improves productivity. 

Additionally, by joining the workforce the income level of women and their families increases. Which leads to a better quality of life.

4. Gender Equality Leads to Economic Development

There are enormous economic benefits of gender equality. For starters, gender equality increases the human capital of a country. An increase in human stock is a core reason for prosperous economies. 

When women have equal opportunities they are more often to avail economic opportunities, such as opening bank accounts, taking loans, or renting a place, etc. These facilities improve entrepreneurial activities in the country. 

Gender equality leads to economic development that benefits the whole of society. 

(Read more on The Relationship Between Gender Equality and Economic Development)

5. Gender Equality Promotes Peace

Gender-equal societies provide equal economic and developmental opportunities to everyone. Societies that offer fair treatment foster sustainability and peace.

Hudson, Valerie et al. (2014) emphasize the importance of equality and peace in her book. It suggests that the prevalence of gender equality in a society can be used to anticipate peace in a region. 

Moreover, the prevalence of equality is more important than a country’s GDP or governance for peace. This is true because equality in societies minimizes unrest, crime, and violence.

6. Gender Equality Reduces Poverty

Gender equality provides opportunities for women to learn new skills and get jobs based on equality. 

Such women are inclined to join the labor force. This increases their income level and power to buy goods and services they couldn’t afford otherwise. Hence, gender equality leading to increased income levels helps in poverty reduction.

7. Gender Equality Improves the Quality of Life

As discussed, a raise in income increases the purchasing power of an individual and a family. Which leads to a better quality of life. 

Additionally, an increase in earnings increases the flow of money in the economy. An increase in the circulation of money increases economic activities that increase the demand for products and services. This whole process contributes to an improved quality of life. 

8. Gender Equality Leads to Happier Households

With gender equality not only everyone have equal access to opportunities but responsibilities are also equally divided among family members.

Research indicates that an imbalance of gender equality in homes leads to failed relationships ending up in depression, fights, and divorces. On the contrary, when women and men spend equal time on unpaid housework and childcare they are likely to be happy.

So if both a man and woman are job holders then housework responsibilities should be equally shared. If one only member is a job holder then responsibilities can be divided as one doing a job and earning money while the second managing housework. 

However, this division of work should not reinforce gender roles. In any case, the gender equality approach leads to happier households.

9. Gender Equality Positively Impacts Children’s Lives

Children raised in environments that have gender equality have a higher level of satisfaction than those raised with inequality. 

Gender equality fosters trust and tolerance in societies. When children observe cooperation, social support, and equality they learn to be tolerant and depict care and respect for others. 

Children raised in such a supportive environment have strong social networks. They have strong emotional, physical and social support from parents, family members, and peers. This support tends to be a powerful asset for them which helps them to go through thick and thin in their lives. 

10. Gender Equality Strengthens the Legal System

Another benefit of gender equality is that it helps to strengthen the legal system of a country. As stated above gender equality fosters educational opportunities for women. And the children of educated women are more likely to get an education. 

Moreover, education plays an important role in promoting and respecting the legal system of a country. It gives awareness of human rights, fosters a culture of transparency, and informs about the local laws.

Hence, gender equality that fosters education also helps to strengthen the legal system.

Concluding Remarks

The benefits of gender equality surpass the spectrum of equality. This article sheds light on the importance of gender equality for individual, social, and economic development. Societies that practice gender equality are more prosperous, just, and sustainable.