Euromonitor International has identified Bangladesh as one of the top five emerging markets with the strongest growth potential in 2016. Other countries include India, Kenya, Indonesia and the Philippines.
Economic growth in Bangladesh was strong in Fiscal Year 2015 despite political protests that hindered exports and private investment. Global headwinds notwithstanding, growth is expected to edge up in the next 2 years on steady expansion in garment exports. The goal of graduating from low- to middle-income status requires much higher investment and thorough reform to improve the business environment, boost budget revenue, and strengthen financial discipline.
Fast facts:
- Bangladesh economy to grow 6.7% in FY2016 on strong garment exports, rising consumption.
- GDP growth in Bangladesh will cross 7.0% in FY2016 which was 6.6% in FY2015 and 6.1% in FY2014.
- Bangladesh is now the world’s second-largest garment exporter after China.
These five countries are on the path of significant economic reforms with a target to improve their business environment. Therefore, Bangladesh proves to be a good option for future investments.