Asia Pacific has emerged as one of the most dynamic regions globally, driving growth through productivity, investment, technology, and innovation. Women have been playing a significant role in powering this growth engine and lifting people out of poverty. However, there are still considerable gaps in gender equality across work and society within the region. Leveraging the full potential of women is crucial to maximizing growth and achieving sustainable development.

The Economic Potential of Advancing Women’s Equality

By promoting gender equality, countries in the Asia Pacific region could add approximately $4.5 trillion to their collective GDP annually by 2025. This 12 percent increase is equivalent to adding an economy the size of Germany and Austria combined each year. All countries within the region stand to benefit from advancing women’s equality.

The largest absolute GDP opportunity lies in China, with a potential $2.6 trillion increase, while India could see an 18 percent increase in its GDP. To achieve this considerable boost in growth, the region must address three economic levers: increasing women’s labor-force participation rate, raising the number of paid hours women work, and enhancing women’s productivity by adding more women to higher-productivity sectors.

The Importance of Women’s Leadership in Business and Politics

Despite the importance of women in driving the region’s growth, they are significantly underrepresented in leadership roles across business and politics. Globally, less than four women hold leadership positions for every ten men. In the Asia Pacific region, this ratio drops to one woman for every four men, with some East Asian countries having only 12 to 20 women leaders for every 100 men.

Addressing this gender imbalance in leadership is essential considering the aging populations, eroding labor pools, and rising skills shortages in many of the region’s economies. Countries like the Philippines, New Zealand, and Singapore have made progress in women’s representation on boards, but there is still much work to be done to reach gender parity.

The Role of Digital Technology in Empowering Women

Digital technology has the potential to significantly empower women and improve gender equality in the region. Technologies such as e-commerce and the online gig economy offer flexible working hours and locations, helping women balance work and family commitments. Digital banking, for example, can provide equal access to financial services and save women time by reducing the need for physical travel to banks or ATMs.

Furthermore, digital technologies can promote higher labor-force participation by women and reduce the hours spent on unpaid work. However, to fully leverage these benefits, it is essential to address the attitudes and barriers that hinder women’s access to the internet and digital opportunities.

Shifting Societal Attitudes Toward Women’s Roles

Societal attitudes play a significant role in perpetuating gender inequality and limiting the importance of women in Asia’s economy and culture. Traditional expectations of women as primary caregivers and discrimination in the workplace continue to hinder progress towards gender parity. Shifting these attitudes is crucial to the advancement of women in the region.

Governments, companies, media, and individuals can all contribute to changing attitudes towards women by using innovative approaches and promoting positive role models. Male champions within organizations can lead cultural change, while public information campaigns can challenge stereotypes and promote gender equality.

Collaborative Solutions for Advancing Gender Equality

While each country in the Asia Pacific region has unique contexts and challenges in addressing gender inequality, collaboration on regional solutions can act as a powerful catalyst for change. Two forms of pan-Asian intervention could prove particularly effective:

1. Improving financial support for initiatives aimed at tackling gender inequality, such as gender-lens investing and development impact bonds.
2. Encouraging regional knowledge sharing to learn from successful policies and programs.

By focusing on these key areas, policy makers, companies, and non-governmental organizations can work together to prioritize gender equality and fully harness the importance of women in driving Asia’s economy and cultural development.

Conclusion

The importance of women in Asia’s economy and culture cannot be overstated. By promoting gender equality, countries in the Asia Pacific region can unlock significant economic potential and foster sustainable development. Addressing barriers to women’s leadership, leveraging digital technologies, shifting societal attitudes, and collaborating on regional solutions are essential steps to fully harness the power of women in the region. By recognizing and acting on the importance of women, Asia Pacific can continue to thrive as a global powerhouse.