Ethiopia is a changed land. For many Westerners, the country’s name conjures images of the decades-ago famines that made headlines, but Ethiopia is charting a new course as part of the so-called “African tigers,” a group of African nations currently enjoying brisk economic growth thanks to a number of interrelated factors. Ethiopia, which some analysts have identified as Africa’s fastest-growing, non-energy-dependent economy, plans on continuing its meteoric rise. The government hopes to become a middle-income country by 2025. This goal may very well be reached if Ethiopia can continue the 8 percent to 10 percent economic growth it has enjoyed over the previous decade.
Ethiopia’s government has been credited for much of the country’s economic success, with one of the major drivers of growth coming from major infrastructure projects, including the Grand Ethiopian Renaissance Dam. Private development has also been increasing, especially as major international corporations such as H&M have begun operations in the country. The economic growth has been paired with a sharp reduction in conflict within the country, driven in part by better drought-prevention infrastructure and a governmental focus on providing economic and social services. While challenges remain, including the need to address economic inequality and issues related to rural minority populations, Ethiopia has proven itself one of the brightest rising stars in Africa.
Ethiopia’s government has been credited for much of the country’s economic success, with one of the major drivers of growth coming from major infrastructure projects, including the Grand Ethiopian Renaissance Dam. Private development has also been increasing, especially as major international corporations such as H&M have begun operations in the country. The economic growth has been paired with a sharp reduction in conflict within the country, driven in part by better drought-prevention infrastructure and a governmental focus on providing economic and social services. While challenges remain, including the need to address economic inequality and issues related to rural minority populations, Ethiopia has proven itself one of the brightest rising stars in Africa.