Is South Africa a Developed Country
Africa’s economy is distinguished by its excellent economic infrastructure and abundant natural resources. South Africa is also making remarkable growth in industry and manufacturing. However, South Africa is still classified as a developing country rather than a developed country. Let’s take a deeper dive into why that is.
6 Features of a Developed Country
Following are the top 6 criteria that a country must meet to be considered a developed country:
1. Has a high per capita income
Each year, developed countries have high per capita incomes. A high per capita income will increase the country’s economic worth. As a result, the level of poverty can be reduced.
2. Security is ensured
Compared to emerging countries, industrialized countries have a higher level of security. This is yet another result of advanced technology in industrialized countries. Weapon technologies and security facilities are also improving due to advanced technology.
3. Health is guaranteed
A developed country’s health is assured in addition to its security. This is characterized by a range of adequate health facilities, such as hospitals, and skilled and dependable medical staff.
4. Unemployment is low
The unemployment rate in modern nations is comparatively low since every resident can find work.
5. Understanding Science and Technology
People in developed nations are more likely to have mastered technology and science, which has introduced new beneficial items to the market. As a result, they have embraced advanced technology and modern technologies to help them in their daily lives.
6. The level of exports exceeds the number of imports
Since industrialized nations have better human resources and technology, the amount of exports exceeds the level of imports.
5 Main Reasons Why South Africa Is Considered a Developing Country
1. Poor annual income
The high unemployment rate makes annual income in emerging nations lower than in rich countries.
2. Security is not guaranteed in South Africa
Unlike in industrialized countries, security in emerging countries is still inadequate. As a result, crime rates in South Africa are relatively high.
3. South Africa’s population is rapidly increasing
South Africa’s population growth rate is approximately 1.28% per year. Because of unregulated population growth, developing nations have a far larger average population than industrialized countries.
4. South Africa has a high unemployment rate
In the second quarter of 2021, South Africa’s unemployment rate is 34.4%. Since potential job opportunities are not fairly dispersed, the unemployment rate in emerging nations remains relatively high. Furthermore, one of the causes contributing to the high unemployment rate is a disparity in educational attainment.
5. Imports outnumber exports
Due to poor management of natural and human resources in developing nations, emerging countries purchase items from other countries more frequently. South Africa must cut imports and improve and grow its agriculture industry to overcome the challenges of becoming a developed economy.
To be recognized as a developed country, South Africa will need to meet the requirements of a developed country, which it could if it starts working on the points mentioned earlier.