Thursday, October 28, 2021

International Research Reveals That Child Marriage Will Cost The World Trillions Of Dollars By 2030

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A new report published by the World Bank and the International Center for Research on Women (ICRW) has revealed that child marriage will cost developing countries trillions of dollars by 2030.In contrast, ending child marriage would have a large positive effect on the educational attainment of girls and their children, contribute to women having fewer children and later in life, and increase women’s expected earnings and household welfare.According to the Economic Impacts of Child Marriage report, the prevalence of child marriage (marriage or union before the age of 18) has decreased in many countries in the past 30 years, but it still remains far too high. In a set of 25 countries for which detailed analysis was conducted, at least one in three women marry before the age of 18, and one in five women have their first child before the age of 18.The analysis suggests that by 2030, gains in annual welfare from lower population growth could reach more than $500 billion annually while an important benefit to be earned from ending child marriage would be an increase in women’s expected earnings in the labor market.Due in large part to the impact of child marriage on education, women who marry as children have, on average, earnings that are nine percent lower than if they had married later. In Nigeria, this equals to $7.6 billion annually in lost earnings and productivity.Photo Credit: Getty

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