5 African Countries with the Potential to Develop Soon and Become a First World Nation

1. Mauritius

HDI Value: 0.796

Annual GDP per Capita Growth as of 2023: 7.10%

Insider Monkey Score: 0.4335

GDP per Capita (2024): $32,090

Mauritius ranks first on our list of the 15 African countries with the potential to develop soon and become a first world nation. This East African island nation lies in the Indian Ocean around 2,000 kilometers off the southeastern coast of the region, located east of Madagascar. Famous for its scenic lagoons, clear beaches, and reefs, the country has a mountainous landscape with waterfalls, rainforests, and hiking trails. Mauritius also houses rare wildlife, including the flying fox. It has a population of 1.263 million people as of 2022, according to estimates by the World Bank. The country is one of the most stable economies in Africa, and holds a 4.9% projected real GDP change in 2024, according to IMF. Its GDP has been on an upward trajectory since 2020 and is expected to continue increasing well until 2030. It currently stands at $16.36 billion as of 2024.

To learn about other African countries with the potential to develop soon and become a first world nation, you can check out our detailed report 15 African Countries with the Potential to Develop Soon and Become a First World Nation. At Insider Monkey, we delve into a variety of topics, ranging from the African countries with potential to business aspects; however, our expertise lies in identifying the top-performing stocks. Currently, Artificial Intelligence (AI) technology stands out as one of the most promising fields. If you are looking for an AI stock that is more promising than NVDA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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