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While many may have set their eyes on China, the continental giant is nonetheless but one of many fast-growing economies. Countries in South America, Southeast Asia and even on the Indian subcontinent have been playing catching up in recent years. Many of these countries are popular tourist destinations, and have a wealth of culture and experiences to offer. Some are blessed with beautiful natural scenery, while others have interesting histories to tell of. Let’s take a look at some of these fast growing economies:
Known primarily for its love of soccer and prodigious soccer players, Brazil is a key player in the world economy markets. Brazil is the largest economy in South America, and in 2014, the 6th largest in the world. Brazil enjoys abundant natural resources, and is thus one of the world’s largest producers of coffee and other agricultural products. Its thriving services sector makes up the bulk of its economy, but Brazil continues to export an enormous amount of goods each year.
One of the most populous and densely packed countries in the world, India’s economy continues to grow and has been much compared to China. In recent years, it has made inroads in the IT sector, with its highly-educated but nevertheless affordable workforce. Well, though it’s a diverse nation, having English as its lingua franca has helped India tremendously in growing its economy. The country is a prime location for call centers and tech support hubs, because of its capable, English-speaking workforce. The manufacturing sector remains strong too, as does the agricultural sector.
Indonesia comprises several large islands, and many smaller ones. Just a few degrees south of the equator, Indonesia is a popular destination with divers, hikers and holidaymakers alike. The country produces a significant percentage of the world’s cocoa and coffee, in addition to various other agricultural products such as rice and fruits. With a rich and diverse cultural heritage, Indonesia’s well-preserved cottage industries and expert craftsmen have also drawn many from far and wide who appreciate the arts and culture of Indonesia.
Vietnam has come a long way since the Vietnam War of 1975. The country has two main urban centers, capital city Hanoi in the north and Ho Chi Minh in the south. Vietnam’s strengths lie in its tourism and manufacturing industries, although its service sector has been growing steadily as well. Hanoi’s blend of traditional Vietnamese culture and the vestiges of its French colonial past are a hit with tourists, as is the buzz and bustle of Ho Chi Minh.
Myanmar is only just beginning to open up to the world after decades of military rule. Yet, the country seems poised to be regaining its former splendor fast. This country has already established itself as the new kid on the block in the manufacturing world, and seems set to continue growing in that direction. An educated, English-speaking workforce is also one of its strengths. Tourism in Myanmar has grown steadily since the country began opening up, and is now a popular destination for tourists to Southeast Asia.
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