Before you even begin you want to set the right framework. 1st world / 3rd world? are these even technically correct terms, going back some years ago they were referred to as Less Economically Developed Countries ("LEDCs") or More Economically Developed Countries ("MEDCs") the notion that there is a 1st world and a 3rd world only gives spirit to us living on totally separate planets, which might inevitably please some people, but it simply isn't true.
Second, you want to make sure your definition of feminism is correct - you have a proper playing field then and can answer the question.
My personal answer to your question (or what I think it is) is yes; true feminism like many strives for equality has a positive impact on society and helps to maintain an appropriate balance between media control and people power. Without it, would it be much worse?. I mean, the majority are already wearing make-up made and advertised by men for example.
Food for thought.