There are very few developed countries in the world but the majority of the countries are still in the developing stage. Developed nations have better standards of living, more equal and less corrupt and there are several countries that are moving towards that direction at a very fast pace. This article will highlight the top 10 fastest developing countries in the world, take a look.
Fastest Developing Countries
This is low profile Latin American state but is one of the few counties that are increasingly becoming more stable in recent years. The country is the least corrupt in the whole of the Americas according to Transparency International reports and this has always been good for its economy. Uruguay is among the most transparent countries in the world and this has had a positive impact on its GDP in recent years.
9. South Africa
South Africa is an economic giant in Africa especially because of valuable minerals and quality infrastructure. The country has experienced tremendous economic growth since it got its independence in the early 1990s because the end of apartheid marked the beginning of economic emancipation. South Africa is one of the few gay-friendly countries in Africa and this helped a great deal in strengthening its relations with economic superpowers.
8. Costa Rica
The small Central American country is among the fastest developing countries in the world. Costa Rica is ranked 12th when it comes to the happiest countries in the world and this attributed to improved standards of living in the country. The country does not have a lot of resources but equal distribution of the few resources is what makes most people be very happy. The country has GDP of $45 billion and the sky is the limit for the relatively small country.
The country has been faced with internal power struggles in recent years which affected its economy but its poor economy has been growing at a fast rate especially when it comes to technology, business and science sectors. Most people may be surprised that Mali is the most efficient country for innovation in Africa despite the fact that it has a relatively low GDP but the future is very bright for this economy.
Economic equality is one of the best indicators of a country that is on a good development path and Kazakhstan is doing very well in that area. It is interesting to know that the country is better than the UK and Portugal when it comes to quality health care, longer life expectancy and less violence. Kazakhstan is almost at the same level with developed countries like Norway, Sweden Australia and Germany when it comes to economic equality.
See Also: 10 Most Dangerous Countries to Live in Africa
The oil-rich state has one of the best literacy rates in the world and this has put the country on a good path to development. The country has been ruled by dictators over the years but the good thing is that the leaders are always serious when it comes to improving the country’s economy and literacy levels.
The country’s economy was stalled temporarily when Gaddafi was being ousted from power but calm has come back to one of the best economies in Africa. The country has one of the most efficient healthcare systems in the world and its fast economic development is attributed to its huge oil deposits. Libya has a very long life expectancy because the government has invested a lot of resources in providing quality healthcare for its people.
The South American Country has performed well in recent years when it comes to economic development. The government has completely won the war against drug abuse and this means that there are more sober people to participate in nation building. Ecuador is also doing well when it comes to employment creation and improving literacy levels.
This is one of the safest countries in the world despite the fact that it is located in the Soviet region where terrorism and violence are the order of the day. The country occupies the number two spot on this list because security should be the number one priority for any nation that wants to be developed. The country has good security policies and has invested heavily in security which creates a perfect atmosphere for economic development.
This is a little-known country near the Philippines in Asia but it is doing very well when it comes to economic development. The country is relatively small in size and this means that the government is able to provide essential services for its citizens. Nicaragua has also done well when it comes to the protection of human rights and is very female-friendly.