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5 Fastest Growing Economies In Asia

Wondering which countries to invest your dollars into or even to move to? Then read on

1. Macao Special Administrative Region of China

Real GDP Growth Rate (2024): 27.2%

GDP Per Capita Growth Rate (2024): 29.16%

While it might be known as the gambling mecca of China, Macao is also a special administrative region of China and one of the fastest-growing economies in Asia in 2024. Macao’s economy is booming with a real GDP growth rate of 27.2% and a GDP per capita growth rate of 29.16%. 

2. India

Real GDP Growth Rate (2024): 6.3%

GDP Per Capita Growth Rate (2024): 9.00%

With over 1.47 Billion people, it's no huge surprise that India comes second on our list. With India being a South Asian country that occupies the greater part of South Asia, it has a real GDP growth rate of 6.3% and a GDP per capita growth rate of 9.00%.

3. Cambodia

Real GDP Growth Rate (2024): 6.1%

GDP Per Capita Growth Rate (2024): 6.34%

Cambodia, a Southeast Asian country, makes its way to the top three fastest-growing economies in Asia in 2024. Famous for their export of textiles which takes over 70% of total exports, they are also famed for rubber, fish and vehicle exports which could count for the country’s real GDP year-on-year growth at 6.1%. 

 

4. Bangladesh

Real GDP Growth Rate (2024): 6%

GDP Per Capita Growth Rate (2024): 0.94%

Chances are you have a jute rug somewhere in your house and chances are said jute came from Bangladesh. A South Asian country famous for its natural resources, it ranks fourth on our list of 20 fastest-growing economies in Asia in 2024. Its real GDP and GDP per capita are growing at 6% and 0.94% respectively.

5. Philippines

Real GDP Growth Rate (2024): 5.9%

GDP Per Capita Growth Rate (2024): 8.03%

The growth in the Philippines economy can be put down to a resumption in commercial activities, public infrastructure spending, and growth in digital financial service and therefore makes it the fifth fastest-growing economy in Asia in 2024. It is a Southeast Asian country with a real GDP growth rate of 5.9% and a GDP per capita growth rate of 8.03%.