No. 10: Dominican Republic
The Dominican Republic is the fastest-growing economy in the Americas. An increase in tourist arrivals, rising foreign remittances, and low oil prices are the factors fueling the economy.
No. 9: Bangladesh
With a population similar to Japan, a per capita GDP at 1/10 of that of Japan, and a GDP growth rate at 5%, Bangladesh’s growth is predictable.
No. 8: Mongolia
Having long been a landlocked country, Mongolia still managed to establish trade with Europe and China, and it paid off! The country has shown strong potential in growth.
No. 7: Kenya
The country that raised President Obama’s father apparently does better than the rest of Africa (at least in 2016). With a GDP growth rate at 6%, it’s the only African country that earned a place in this list.
No. 6: Nepal
Sitting right between two of the word’s largest and fastest growing economies, Nepal has take good advantage of this unique position. The country’s GDP has grown by 7.7% in 2016.
No. 5: Iceland
As one of the few the country that ever went bankrupt, Iceland is apparently the one that get back pretty fast. The countries GDP has grown 7% in 2016 and there’s no sign of it slowing down.
No. 4: Iran
Iran’s economy has staggered for years due to US sanction, and yet the country managed to establish trading with its neighboring countries and had an economic boom. Iran’s 2016 GDP growth rate is at stunning 9%.
No. 3: China
China has been developing incredibly fast since 2005. The country became the world’s largest in 2016, however at a per capita level China is still way behind US which gives the country lots of space to grow.
No. 2: Vietnam
Since the early 2000s, Vietnam has applied sequenced trade liberalisation, and the economy has been booming ever since. The country has a GDP grow rate of 6.4% in 2016.
No. 1: India
India, the world’s largest democracy, with a GDP growth rate at 7.1%, is arguably the world’s most promising country.