International Women's Day - Investing in women and inspiring inclusion

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As a leading market research company, Global Survey is committed to shedding light on critical issues that impact our world. On this International Women’s Day 2024, we turn our focus to the economic inclusion of women—a topic of immense significance.

Economic Disparities Persist

Globally, women continue to face economic disparities. These inequities manifest in various ways:

• Lower Pay: Women earn less than men, perpetuating an unjust wage gap.
• Informal Employment: Many women find themselves in precarious, informal work arrangements.
• Unpaid Care Work: Women shoulder a disproportionate burden of unpaid care responsibilities.

UK Government Commitments

The UK government has taken steps to promote gender equality and economic inclusion. However, concerns persist regarding aid funding levels. Notable initiatives include:

1. Aid Spending: Understanding the allocation of resources to advance women’s rights.
2. International Women and Girls Strategy: Uncovering strategies for empowering women globally.
3. International Development White Paper: Insights into policies driving economic inclusion.
4. Women, Peace, and Security Action Plan: Addressing gender-based violence and conflict.

Gender Gap in Economic Participation and Opportunity

Since 2006, the World Economic Forum (WEF) has published global gender gap reports. The most recent report, from 2023, ranked the UK 15th out of 146 countries for gender parity. The index reported that the UK had closed 73.1% of its gender gap for economic participation and opportunity, where 100% is gender parity. This was slightly lower than the score of 73.3% for 2022. The global score for economic participation and opportunity is 59.8%, down from 60% in 2022. The WEF assessed that at the current rate, it would take 169 years to close the global economic participation and opportunity gender gap.

UK Statistics on Economic Inclusion

• Labour Force Participation Rate: 85.8%
• Wage Equality for Similar Work: 69.7%
• Estimated Earned Income: 61.9%
• Legislators, Senior Officials, and Managers: 58.3%
• Professional and Technical Workers: 99.2%

UK Domestic Policies

Within the UK, progress is evident through domestic policies:

1. New Employment Law: Recent legislative changes supporting women in the workforce.
2. Extension of Free Childcare: Enhancing accessibility for working parents.
3. Other Government Programs: Initiatives fostering women’s economic participation.

House of Lords Debate

On March 8, 2024, the House of Lords will engage in a crucial debate on International Women’s Day. Baroness Barran and Baroness Vere of Norbiton will lead discussions on the steps taken to promote economic inclusion for women.

Let us collectively champion women’s economic empowerment, celebrate their achievements, and build a more inclusive world.

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