Infographic: Why it’s Africa’s turn for an economic boom
October 12, 2013 Editor 0
Africa now has a $2 trillion economy, and it’s poised to keep growing–fast.
A click-through infographic in the Harvard Business Review blog shows seven reasons why Africa’s economy is growing faster than those of all other continents, and why its global economic spotlight will beginto shine brighter.
Here are some of our favorite, most promising factors driving the economic explosion:
Reason number 1: It’s a huge market opportunity. The map shows Africa’s relative size, but beyond that, it’s urban population and middle class keep growing, meaning more people are able to pay for goods and services than ever before.
Reason number 3: Internal trade is picking up. New companies popping up and trade barriers falling mean growing trade within the continent.
Reason number 4: Soon home to the world’s largest workforce. By 2050, one quarter of the world’s workers will be African.
Reason number 7: Most available cropland is African land. More than 60 percent of the world’s potential farmland is on the African continent. That, combined with other newfound resource supplies, will continue to drive foreign investment.
Click through all seven reasons and see the future of promising growth in Africa’s frontier markets.An infographic from Harvard Business Review shows Africa’s potential for economic growth. Image: Harvard Business Review blog
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