THE IMPORTANCE OF GENDER EQUALITY IN THE DEVELOPMENT OF THE ECONOMY OF REGIONS

Abstract

Gender equality is not only a criterion of social justice, but also one of the main factors of economic growth and stability. According to studies by the International Monetary Fund (IMF), the organization for Economic Cooperation and Development (OECD) and the World Bank, equal participation of women in economic life has a significant positive impact on the country's gross domestic product (GDP) and regional development. Studies show that a 10 percent increase in parliamentary women's representation in European and Central Asian countries adds an average of 0.74 percent to GDP growth. EU projections, on the other hand, show a 6.1–9.6 percent increase in GDP per capita as a result of gender equality increases by 2050, with additional economic benefits of € 1.95– € 3.15 trillion.