International Women's Day 2024: Investing in Women, a Catalyst for Economic Growth

TEMPO.CO, Jakarta - Women and girls worldwide continue to grapple with marginalization, discrimination, and the disproportionate impacts of global crises such as conflict, climate change, and poverty, despite significant advancements in education, leadership, and advocacy for human rights, UN Women said in a written statement. 

These issues underscore the critical need for targeted investments in women's empowerment. 

UN Women, the UN organization dedicated to gender equality and women empowerment, said that as we approach International Women's Day on March 8, the world reflects on the considerable strides made in gender equality and the persistent hurdles that remain. 

The theme for this year's International Women's Day, "Invest in Women: Accelerate Progress," calls for significant financial commitment towards closing the gender gap, with the United Nations estimating that US$360 billion per year is required for education alone. 

Such investments yield substantial economic benefits, potentially boosting global GDP by 20 percent and creating 300 million new jobs by 2035, UN Women said in a written statement.  

In Indonesia, while there's gender parity in education, women's participation in the workforce and business remains markedly lower than men's, particularly in micro-scale enterprises. Additionally, violence against women is rampant, with a 2021 survey revealing that one in four Indonesian women aged 15-64 has experienced violence in her lifetime.

As Valerie Julliand, the UN Resident Coordinator, highlights, investing in women is not just a moral imperative but a strategic investment that yields substantial dividends for economic growth and sustainable development. She said, "We need public and private investment in programs to end violence against women, ensure decent work, and drive women’s inclusion and leadership in digital technologies, peacebuilding, climate action, and across all sectors of the economy."

“As we observe International Women's Day, let us reaffirm our commitment to accelerating efforts towards achieving gender equality and empowering women and girls across the globe, “ Valerie added.

Only when women and girls can exercise their bodily autonomy and make informed choices can they achieve their full potential, participate fully in social, economic, and political spheres, and contribute to development, she said.

The United Nations has been instrumental in advancing gender equality in Indonesia. Initiatives have ranged from supporting women entrepreneurs and integrating gender equality into business practices to enhancing policy responses to violence against women and incorporating gender considerations across various sectors. These efforts demonstrate a comprehensive approach to tackling gender-based challenges and promoting sustainable development.

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