This map shows South Africa’s projected economic growth to 2024
Cost-estimation site, HowMuch.net has drawn up map with countries scaled to show how each one’s predicted growth rate through 2024 compares to the rest of the world.
The projections are based on a study of “economic complexity” run by the Center for International Development at Harvard University.
The study captures the diversity and sophistication of productive capabilities embedded in a country’s exports, to generate the growth projections.
Leading researcher, Ricardo Hausmann, said that gains in economic complexity have historically translated into higher incomes and growth.
World Map of Economic Growth (click to enlarge)
The research shows that India is expected to see the biggest growth to 2024, averaging 7% annually, followed by a number of African nations – Uganda, Kenya, Tanzania, Egypt and Madagascar – all close to 6%.
The projected data for South Africa is slightly less optimistic at 3.7% average per year to 2024, however, it is a vast improvement on current and expected growth trends – just 0.9% in 2016.
Growth is expected to be only 1.8% in 2017, according to the International Monetary Fund.
The full list of projections can be found here.
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