Most lawmakers and executives around the world know the benefits that come with educating women.
If you are looking, for example, there is a reason why Scandinavian countries have always scored well on parameters like HDI, Happiness Indexes, and GDPs.
To ensure the complete progress of society, educated women can play a major role.
For the last few decades, governments all over the world have been taking steps to ensure more women are educated, get schooling, complete graduation, and start working.
According to Nancy Etz, scholarships, the introduction of specialized programs and awareness campaigns have proven to be instrumental when it comes to women’s education.
In this article, we are going to look at how educated women can contribute to a nation’s economic development.
Educated Women entering the Workforce Pay Taxes for the Country’s Development
Taxes are a very important financial asset and allow a country to invest in infrastructure development. The amount of taxes collected from the citizen of a country can directly help in aiding the government to spend more on-
- Healthcare Facilities
- Educational Opportunities
- Roads and Highway Construction
- Public Transport Development
- Social Schemes for Weaker Sections
More women entering the workforce mean additions in professionals that are going to pay taxes to the nation. For governments, tax collection efforts must continue to increase every year. This is because the overall expenditure keeping in mind inflation also increases.
Governments have always looked at improving tax collections on a year-to-year basis. More taxes directly translate into better-developed societies and populations.
Educated Women can become Entrepreneurs and Create More Employment Generation
One of the biggest problems of the increasing population is not having enough jobs. In other words, for a government, ensuring that its workable age population is employed is very important.
In this process, the role played by private entrepreneurs becomes very important. Educated women can either become salaried professionals or take the plunge into entrepreneurship.
This can not only help in the opening up of new businesses but also generate sizable employment opportunities. This can reduce the pressure on the government, which can then look to utilize its resources into building foundations of better healthcare, education, and social benefits.
In the last few years, women entrepreneurs have been at the forefront of starting and leading great businesses. These businesses are not only profitable by nature, but have also allowed for the creation of millions of new jobs all over the country.
Educated and Working Women Focus on Savings and Investments
Data and statistics show that women are more likely to save a portion of their earnings. These savings are important as it helps build up the financial assets of a country. The more money a government bond has, the better will be the cash flow at the disposal of the government.
Women are also more likely to invest their income to make the money grow. When it comes to growing the money circulating within economies, investments play an important role.
Both savings and investments can power a country’s economic growth story and create more businesses and jobs for the country. As women are more likely to save and invest, their education and employment are something that always benefits the country.
The Final Word
In this article, we have tried to highlight some major impacts of women’s education on the economy. Of course, the social impact of the same cannot be ignored as well. But that is a discussion that warrants an individual article all by itself.
Giving girls access to women’s education can also empower them to become confident. Educated women are likelier to push their daughters into education and professional employment. This means that the overall literacy and productivity of a family also increases.
Can you list some more ways how educated women can contribute to a nation’s economic development? Drop your answers in the comments section below.