As of 2024, the global economic landscape showcases several countries achieving rapid GDP growth rates. Here are the top five nations and the primary factors contributing to their success:
Guyana (Projected GDP Growth: ~26.6%)
Guyana leads global GDP growth due to its booming oil industry. Discoveries of significant offshore oil reserves by ExxonMobil have made the country one of the fastest-growing oil producers. This has transformed its economic prospects, drawing substantial foreign direct investment and supporting infrastructure development.
Macao SAR (Projected GDP Growth: ~27.2%)
Macao's economy has rebounded strongly following pandemic-induced contractions, driven by a revival in tourism and gaming. As a global gambling hub, its economic growth reflects increased visitor numbers from mainland China and other regions, supported by eased travel restrictions.
India (Projected GDP Growth: ~6.8%)
India's growth is propelled by strong private consumption, a young workforce, and a thriving technology and service sector. Investments in manufacturing and infrastructure under government initiatives like "Make in India" also bolster its economic expansion. The agricultural sector's resilience adds to its diversified economic base.
Ethiopia (Projected GDP Growth: ~6.2%)
Ethiopia's economic recovery stems from infrastructure investments and a focus on industrialization through initiatives like its Industrial Parks Development Corporation. The agricultural sector remains vital, alongside growth in energy and logistics due to improved peace and governance efforts.
Côte d'Ivoire (Projected GDP Growth: ~6.6%)
Côte d'Ivoire benefits from its status as a leading exporter of cocoa and cashews. Additionally, infrastructure investments, a growing middle class, and expanding urbanization contribute to its robust economic performance.
Get full access to all training courses.