Located in southern Africa, Eswatini (formerly known as Swaziland) is often overlooked as a tourist destination and economic powerhouse. However, this small country has untapped potential waiting to be unleashed. In this article, we will explore Eswatini’s economic prospects and why it is a hidden gem worth studying.
A solid foundation
Eswatini has a solid foundation for economic growth, with a favorable business environment, low debt and a stable monarchy. The country has made significant progress in recent years, with a GDP growth rate of 2.5% in 2020, outpacing many of its regional peers. Additionally, Eswatini has a young and educated population, providing a skilled workforce for businesses looking to invest.
Agroeconomics
Agriculture is the backbone of Eswatini’s economy, accounting for approximately 16% of the country’s GDP. The country is home to a diverse range of crops, including sugarcane, corn and citrus fruits. With favorable climatic conditions and rich soil, Eswatini is well positioned to become a major player in the global food market. The government actively promotes agricultural development, with initiatives such as the Eswatini Agricultural Development Strategy, aimed at increasing productivity and reducing post-harvest losses.
Manufacturing and industry
Eswatini’s manufacturing sector is growing rapidly, driven by its strategic location and favorable business environment. The country has a number of industrial zones, providing a range of facilities and services to local and international businesses. From textiles to pharmaceuticals, Eswatini is home to a wide range of industries, with companies such as the Swazi Sugar Corporation and the Malolotja Paper Company leading the way.
Tourism: a growing sector
Tourism is another area of great potential for Eswatini, with the country’s unique culture, stunning natural beauty and rich wildlife reserves attracting visitors from around the world. The government has launched initiatives to promote tourism, including the Eswatini Tourism Authority, which aims to increase visitor numbers and improve infrastructure.
Energy and infrastructure
Eswatini is rich in natural resources, including coal, gas and water. The country is actively developing its energy sector, with projects such as the JwaJwa coal mine and the Mbabane power project. In addition, the government is investing in infrastructure development, including upgrading roads, expanding airports and improving telecommunications.
Eswatini is a hidden gem waiting to be discovered, with a strong foundation, agro-economy, manufacturing and industry, tourism, energy and infrastructure development all contributing to its growing economic potential. With the right investment and support, Eswatini can become a major player in the regional and global economies, providing opportunities for local and international businesses. As the country continues to develop and grow, now is the perfect time to explore the many opportunities available in this exciting and forward-thinking nation.
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