Global Competitiveness of Africa

Africa has now bloomed from a scary place to a loveable continent for many business enthusiast. All over the world, America, Asia and Europe, the Black Continent got “suitors”. These suitors are pursuing a business career in Africa. They knew that they will gain more devoting to the region. Unexplored resources are abundant in Africa. Business opportunities are overflowing throughout the region. All of these prevailed against the continent's trademark. Most African countries now have a good economic prospect.

The Global Competitiveness of Africa is seen on their growth despite the global financial crisis. Unlike most countries, Africa showed economic growth for the past years. This economic turn-down opened the windows of the region and opened the eyes of the world to make them see what Africa can offer them. More than what the history showed, the Black Continent is a bliss for us while suffering from a crisis.

Global Financial Crisis asked for more demand. This crisis is a blessing for Africa. The focus is now on them since they possess vast and untapped resources. The natural that Africa is what bringing them to where they are now. Many country is now taking advantage of this like China, India, France and US.

Mining, agriculture and tourism are the best assets that Africa use for their continuous bloom.

The region is best known for their mining industry. They've got the largest reserves of minerals and the leading site to dig diamonds, cobalt, uranium and some other rare minerals. They are also suppliers of oil and gold. As a matter of fact, it is in Africa where you find half of the world's diamond, more than three quarters of platinum and palladium and almost 15% of oil supply across the globe.

African agriculture is promoting their cacao, coffee, banana, orange, apple and grapes. Africa supplies wine ingredients to France distributed to most of their high-class restaurants. 70% of Africans are involved in agriculture-related business. The total agricultural exports, from an amount of $14.7 billion in 2000, it expanded to $25.3 in 2006.

Tourism is also a factor in Africa's economical development. They still have the Pyramids in Egypt. Kilimanjaro, Sahara desert and Nile River. Tourism industry has also created more jobs for their people and more business opportunities for investors inside and out of the country.

Africa's current situation also paved way for more development. Foreign countries lost their blinds and saw that there are opportunities in adversity. Telecommunications were improved and as expected, Africans embraced these innovations. More businesses came bringing aid, like power industry that brought light in larger part of the region. On health aspects, business enthusiast bet on this because it is what Africans need.

Africa is now a globally competitive country. There's nothing that can stop it now. The resources that they've got, and was ignored for a long time are now the newest attraction. Africa is some place we can run to when the world starts turn around from us.

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