Africa is rising: income increasing dramatically, most will reach middle incomes
Options
kingblaze84
Members Posts: 14,288 ✭✭✭✭✭
http://www.csmonitor.com/World/Africa/Africa-Monitor/2011/1019/Africa-Rising-Continent-s-income-to-triple-extreme-poverty-gone-by-2060
Africa Rising: Continent's income to triple, extreme poverty gone by 2060?
Most African countries 'will attain upper middle income status' by 2060, says a new report to be released tomorrow by the African Development Bank.
Africa – the continent with the world’s youngest, poorest population – will grow by leaps and bounds over the next half century as its middle class swells, its literacy rates rise, and its average life expectancy lengthens, says a report that is to be made public tomorrow.
By 2060, “most African countries will attain upper middle income status, and the extreme forms of poverty will have been eliminated,” says the report from the Tunis-based African Development Bank.
Under the most optimistic scenario, Africa’s GDP would grow by 900 percent, topping out at $15 trillion by 2060 – that’s a shade bigger than the current GDP of the United States. At the same time, income per capita would more than triple from last year’s level of $1,667 to roughly $5,600 by 2060. That would be a big jump in Africa’s standard of living, putting the continent on par with current income levels in Southeast Asia.
Africa Rising: Continent's income to triple, extreme poverty gone by 2060?
Most African countries 'will attain upper middle income status' by 2060, says a new report to be released tomorrow by the African Development Bank.
Africa – the continent with the world’s youngest, poorest population – will grow by leaps and bounds over the next half century as its middle class swells, its literacy rates rise, and its average life expectancy lengthens, says a report that is to be made public tomorrow.
By 2060, “most African countries will attain upper middle income status, and the extreme forms of poverty will have been eliminated,” says the report from the Tunis-based African Development Bank.
Under the most optimistic scenario, Africa’s GDP would grow by 900 percent, topping out at $15 trillion by 2060 – that’s a shade bigger than the current GDP of the United States. At the same time, income per capita would more than triple from last year’s level of $1,667 to roughly $5,600 by 2060. That would be a big jump in Africa’s standard of living, putting the continent on par with current income levels in Southeast Asia.
Comments
-
continued
The strongest growth will come in East Africa, where the economies of robust nations like Kenya, Uganda, and Tanzania should average growth rates of more than 9 percent come 2030. Fifty years from now, per capita income in East Africa will be 10 times higher than it is today.
Cities to drive growth
Across the continent, swelling urban populations will drive Africa’s economic growth. In 2060, nearly three quarters of the continent’s 2.7 billion people will fall in the “economically active” age range – between 15 and 64. Two-thirds of the continent’s citizens will live in cities, up from 40 percent today.
More and more of those city dwellers will be members of the continent’s booming middle class, which will number 1.1 billion people fifty years from now, or 42 percent of the continent’s population. The proportion of people living on less than $1.25 a day will fall by a quarter, from 44 percent of the population to 33 percent. Nearly everyone on the continent will have access to broadband Internet.
Africa’s economic gains will be accompanied by improvements in health and education, the report says. Child mortality will be cut by more than half and life expectancy will jump to 70 years, compared to the current 56 years, although that number will vary significantly across regions. Meanwhile, literacy rates will rise to 96 percent, up from 67 percent last year.
This is great news if this is really true. I'm very happy the people of Africa are making gains in so dramatic a fashion, even with lots of foreign aid being cut off from America recently (Bush gave more to Africa than Obama). Let's hope these results last. -
This cause ? are finally smartenin up in Africa and realizin they need to join forces, they creatin super countries out there b.
-
kingblaze84 wrote: »http://www.csmonitor.com/World/Africa/Africa-Monitor/2011/1019/Africa-Rising-Continent-s-income-to-triple-extreme-poverty-gone-by-2060
Africa Rising: Continent's income to triple, extreme poverty gone by 2060?
Most African countries 'will attain upper middle income status' by 2060, says a new report to be released tomorrow by the African Development Bank.
Africa – the continent with the world’s youngest, poorest population – will grow by leaps and bounds over the next half century as its middle class swells, its literacy rates rise, and its average life expectancy lengthens, says a report that is to be made public tomorrow.
By 2060, “most African countries will attain upper middle income status, and the extreme forms of poverty will have been eliminated,” says the report from the Tunis-based African Development Bank.
Under the most optimistic scenario, Africa’s GDP would grow by 900 percent, topping out at $15 trillion by 2060 – that’s a shade bigger than the current GDP of the United States. At the same time, income per capita would more than triple from last year’s level of $1,667 to roughly $5,600 by 2060. That would be a big jump in Africa’s standard of living, putting the continent on par with current income levels in Southeast Asia.
Does this include inflation? If not, $5,600 won't be ? in 2060. -
Middle Income Countries=Latin America.
So theyll be where Latin America is in 50 years?Smh.I guess anything is an improvement.They should prioritize democracy,political stability,rule of law,social programs and infrasctrue over everything else. -
The article actually said Africa would be on par with incomes averaged around Southeast Asia
-
crackers will come along and ? it up like they always do. brace yourselves for a military coup out of nowhere to destabilize a government.
-
Southeast asia =Indonesia,Phillipines,etc..basically the same living standard as Latin America.So they will catch up the rest of the ? countries in 50 years?
-
Does this include inflation? If not, $5,600 won't be ? in 2060.
Well I don't think American money is used for the most part in Africa. Africans in general use their own individual currencies for the most part, so I don't think this will be a problem. Even than, the dollar is probably worth a lot in Africa, as it is in most parts of the world. It's a different story in America where the dollar is worth almost nothing....... -
Paul Hate. wrote: »Southeast asia =Indonesia,Phillipines,etc..basically the same living standard as Latin America.So they will catch up the rest of the ? countries in 50 years?
Indonesia is not that bad in shape, and some Southeast Asian countries are doing fairly well. Thailand and Vietnam are actually pretty good places to live these days -
something tells me that if one takes issue with what you might see as overly-oppressive government in the US, they might not find Thailand and Vietnam that nice to live inkingblaze84 wrote: »Indonesia is not that bad in shape, and some Southeast Asian countries are doing fairly well. Thailand and Vietnam are actually pretty good places to live these days -
something tells me that if one takes issue with what you might see as overly-oppressive government in the US, they might not find Thailand and Vietnam that nice to live in
What makes you think Vietnam and Thailand are that oppressive?? -
kingblaze84 wrote: »Well I don't think American money is used for the most part in Africa. Africans in general use their own individual currencies for the most part, so I don't think this will be a problem. Even than, the dollar is probably worth a lot in Africa, as it is in most parts of the world. It's a different story in America where the dollar is worth almost nothing.......
^Wow,all that ? you talk and you have zero concept of macro economics..LMAO.
? up. -
Paul Hate. wrote: »^Wow,all that ? you talk and you have zero concept of macro economics..LMAO.
? up.
I have African friends who live here in America, I know what I'm talking about. Matter of fact my boy from Nigeria is amazed how the dollar goes far in Nigeria but not very far in America itself so what the hell are u talking about -
No ? ...kingblaze84 wrote: »Thailand and Vietnam are actually pretty good places to live these days -
Stack Money wrote: »No ? ...
Lol....... -
I didn't mean anything about the child sex trade, although I have had girls lie to me before......
-
kingblaze84 wrote: »I have African friends who live here in America, I know what I'm talking about. Matter of fact my boy from Nigeria is amazed how the dollar goes far in Nigeria but not very far in America itself so what the hell are u talking about
Thats not what im talking about.
How will 5600 be worth anything 50 years from now?At the end of the day currency might devaluated but that "dollar goes as far you can think" is not true.A 2 dollar item is probably 2.50-2.75 overseas(taxes and tarriffs) and the wages will be low.
You have zero grasp of macroeconomics or international business...All that ? you talk in here..lmao.. -
start with something basic like press freedom and you can see the differences. now, freedom doesn't necessarily equal livability, so maybe it doesn't bother some people.kingblaze84 wrote: »What makes you think Vietnam and Thailand are that oppressive??
but, okay, links: if you go by something like Freedom House, the US is free, Thailand is partly free, and Vietnam is not free. if we use, say, the Economist's Democracy Index, the US gets an 8.18, Thailand a 6.55, and Vietnam a 2.94.
if you like Thailand or Vietnam enough to want to live there, cool. but if you're in the US thinking "this place is keeping me down," you might be disappointed in Thailand or Vietnam. -
This gon describe the East African Federation in a few years.The African country yall need to be watching is NIGERIA. The Nigerians are the ones contributing to most of the growth that's coming out of & going to come out of Africa in both the short & long term. There's 160 million people in Nigeria, you've got a fast growing economy, rich in oil reserves & other natural resources and good politics running the country. Nigeria will be a super power in 10 years & will be the most powerful country in Africa (arguably it already is).
South Africa will also contribute a great deal as well. -
Paul Hate. wrote: »Thats not what im talking about.
How will 5600 be worth anything 50 years from now?At the end of the day currency might devaluated but that "dollar goes as far you can think" is not true.A 2 dollar item is probably 2.50-2.75 overseas(taxes and tarriffs) and the wages will be low.
You have zero grasp of macroeconomics or international business...All that ? you talk in here..lmao..
Africans can use their own currency, it's not all about the American dollar. The dollar is a slowly falling ship, so nations will have to rely on their own currencies and others aside from the USA to survive in the long run. The way the dollar is going with 15 trillion in debt, Africa will eventually rely less and less on the dollar, so it's whatever at this point. -
start with something basic like press freedom and you can see the differences. now, freedom doesn't necessarily equal livability, so maybe it doesn't bother some people.
but, okay, links: if you go by something like Freedom House, the US is free, Thailand is partly free, and Vietnam is not free. if we use, say, the Economist's Democracy Index, the US gets an 8.18, Thailand a 6.55, and Vietnam a 2.94.
if you like Thailand or Vietnam enough to want to live there, cool. but if you're in the US thinking "this place is keeping me down," you might be disappointed in Thailand or Vietnam.
Well America is still a police state in so many ways, but I see Thailand and Vietnam are much worse thanks for the info. I do criticize America at times but I still understand overall it's a cool place to live. It just has to make some serious changes. -
Don't mean ? . As much as i love all my black folks everywhere africa will never reach ? cuz of the amount of corrupt muthfuckas that will use their own ppl to get theirs and blacks being against blacks. ? because of every country's different background in Africa everybody out there are so different and don't really trust each other and ? with each other.
-
well, also, the fact that the US might be better than Thailand or Vietnam does not excuse problems in the US. so there's always that.kingblaze84 wrote: »Well America is still a police state in so many ways, but I see Thailand and Vietnam are much worse thanks for the info. I do criticize America at times but I still understand overall it's a cool place to live. It just has to make some serious changes. -
? ! THIS IS EXACTLY WHY WE NEED AAAAA NNNNNAAAGGGGGGAAAAAA HHOOOOOLLLLLYYYYYYDDDDDAAAAAYYYYYYYYYYY.......
JOIN THE MOVEMENT!!
http://youtu.be/q7GBWSaKJC8 -
CirocObama wrote: »Don't mean ? . As much as i love all my black folks everywhere africa will never reach ? cuz of the amount of corrupt muthfuckas that will use their own ppl to get theirs and blacks being against blacks. ? because of every country's different background in Africa everybody out there are so different and don't really trust each other and ? with each other.
Yeah there is lots of corruption in many African govts but progress is progress right? I personally have high hopes for Africa because of Africans I know personally, and they tell me themselves things are improving. When you hit rock bottom, the only way to go is up.
