Gender inequality costs the region 80USD billion a year, says 2007 Economic and Social Survey

The region is losing USD42-47 billion a year because of restrictions on women’s access to employment opportunities, according to the 2007 Economic and Social Survey. (Photo in India, Mumbai, by Wanphen Sreshthaputra)

The Asian and Pacific region is losing USD42-47 billion a year because of restrictions on women’s access to employment and another USD16-30 billion because of gender gaps in education, according to the recently released UNESCAP’s annual flagship publication, the Economic and Social Survey of Asia and the Pacific 2007.

Devoting an entire chapter to one of the region’s most pressing socio-economic issues – gender discrimination, the Survey examines the economic cost to the region of denying women access to employment, education and health services. The publication proposes practical and effective actions in each of these areas, drawn from Asia-Pacific’s good practices.

If India’s female work force participation was placed on par with that of the United States, according to the Survey, its gross domestic product would be lifted by 1.08 percentage points, signifying a gain to the economy of USD19 billion. Significant gains could also be secured in Malaysia and Indonesia, but less in China where female labour force participation is already considerably higher, the Survey says.
Failure to allow women to realize their economic potential in the work place has led to gaps of between 30 and 40 per cent in male-female labour force participation rates across the region. Disparities exist over a wide range of areas – from low access to education and health services, to economic opportunities and through to political participation.

According to the Survey, gender balance could be achieved with minimum effort and cost, provided there is political commitment at the highest level. The Survey makes various policy recommendations to eliminate gender discrimination, such as improving access to education, improving access to health care, enhancing economic participation of women as well as their access to material resources.

The Survey, entitled “Surging Ahead in Uncertain Times”, also reviews the region’s economic performance in 2006 and looks at the critical issues, challenges and risks facing the region. Management of exchange rates appears as one of the biggest challenges facing Asian and Pacific economies in 2007, while the external environment appears slightly adverse, owing mainly to the slowing of the American economy and a moderate decline in global electronics demand.

“As a whole, the 2007 outlook is above 7 per cent economic growth”, noted UNESCAP Executive Secretary Kim Hak-Su at the launch of the Survey. “The three big Asian economies – China, India and Japan – will maintain the growth momentum and may provide good opportunities to other developing countries”, he said.
Note: The Economic and Social Survey of Asia and the Pacific 2007 is available online at www.unescap.org/survey2007.