Women in the GCC are clearly moving beyond the traditional confinements of home and family and changing the old paradigms where gender is concerned, a report said Monday. They are making marked progress at work, education, and in socio-economic development while also swiftly assuming leadership positions in the political, social and economic spheres, Al Masah Capital Limited report said, noting that they are also making their presence felt in senior management roles in the corporate and private sector. The report underscored the tangible rise in female empowerment as they break the glass ceilings in multiple disciplines. As many as 1.5 million women have joined the work force in the region in the first decade of the 21st century increasing from 1.8 million to 3.3 million, marking an 83 percent spike. Just over 26 percent of the region's female work force participates in the labor market, the report said, though comprised 41 percent of the population. Saudi Arabia and the UAE host nearly three-fourth of total women labor force in the region. With 1.75 million employed women, Saudi Arabia accounts for 54 percent of the total, followed by the UAE (0.70 million employed women forming 22 percent of the total). The other four countries have smaller contributions: Kuwait (10 percent), Oman (6 percent), Qatar (5 percent), and Bahrain (4 percent). Al Masah report noted that only 3.3 million of the 10 million literate women have jobs at present. However, the GCC countries have putt into action certain initiatives designed to widen the window of opportunity for women. On Sept. 26, 2011, King Abdullah, Custodian of the Two Holy Mosques, issued a decree that allows women in Saudi Arabia to participate in polls as both voters and candidates, and to become members of the Shoura and municipal councils. This has been seen as a major step toward boosting women's contribution to key areas of society, and at the same time acknowledges their ability to take on high level posts and greater responsibilities. The Kingdom also moved to create 52,000 new job opportunities for educated men and women. The UAE, which has taken up a spearhead role in giving women every possible chance to be productive, has launched a 5-year plan to develop female leadership qualities. By the same token, Qatar and Kuwait have business forums setup for women (Qatar Business Women Forum and Business Professional Women) with the aim of helping businesswomen contribute to the economic development of their respective countries. Education has been placed on the front burner and in these 3 GCC states women comprised more than 60 percent of all graduates in 2009. The study quoted Dr. Mona Almunajjed, a sociologist, author and adviser on social and gender issues, saying that women play a vital role as agents of change in society, and in building their country. "Women are a valuable resource for human development that can be effectively used in the national economy when allowed to join equally with men," she said. The research also noted that women are politically very aware and committed. Currently, there are female ministers in the UAE, Bahrain, Kuwait and Oman. According to the Inter-Parliamentary Union, the number of parliamentary seats occupied by women reached seven in the UAE, five in Kuwait, four in Bahrain, and one in Oman. Turning to the business aspect, the Al Masah report showed that women have a significant amount of wealth. The Boston Consulting Group estimates place wealth held by women in the MENA region at $500 billion, while MEED estimates the wealth held by women in the Gulf region at $385 billion. This wealth is mostly invested in safe asset classes such as cash/bank deposits and bonds, which is why some financial institutions have been quick to take steps to benefit from this situation. Financial institutions have attempted to put this money to better use by providing ladies-only bank branches and establishing targeted funds such as TNI Dana Women Fund. Al Masah CEO Shailesh Dash said "these women of high worth should consider putting some of this wealth to use in entrepreneurial projects or ventures. The GCC's female entrepreneurs also seem to be more successful and they bring a certain new zest to the table."
