Four Countries With A Rapidly Growing High Tech Sector

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The high tech sector is often the backbone of a healthy economy, and this sector of the economy is growing rapidly in many parts of the world. While growth of the technology sector is likely to continue in the developed world, high tech growth is often especially rapid in the developing world. Here are some countries where high tech sector growth is taking place at a particularly rapid pace:

China:
China is experiencing rapid economic growth in general, and this includes the country's high tech sector. While the high tech sector of China has been growing for some time, it may grow at an even faster rate in the future. China's economy is thought to be making a transition from an industrial to a post industrial nation. This transition often leads to growth in the high tech sector.

Since people in China are spending more on merchandise in general, more people in China are purchasing high tech gadgets. You can see this trend from the increase in internet usage that has been happening throughout China. It is estimated that there is a new internet user in China every 1.6 seconds. Currently, nearly 600 million people in China already use the internet. This is nearly double the population of the United States, and this figure is expected to continue rising rapidly!

Impacts Of China's High Tech Growth On The Tourism Industry:
In addition, the technological growth in China could spur an increase in oriental travel. As citizens of the west become aware of the growth in China's high tech sector, this may make them more likely to visit China and other Asian nations.

South Korea:
The economy of South Korea is developing rapidly, and there has been a dramatic increase in the amount of money spent on research and development in the country. During the later half of the 1990s, research and development only accounted for around 2.25-2.5 percent of the nation's GDP. This figure began to rise rapidly during the 2000s, and it continues rising. By 2013, research and development was already more than 4.5 percent of the country's GDP. This type of rise in research and development simply isn't found in most countries. Even in China, the amount of money spent on research and development has yet to reach 2%.

Brazil:
Brazil is currently the 8th largest economy in the world. As a result, Brazilian citizens have a lot more money to spend on high tech gadgets than they did in the past. As a result, there is now a large number of internet users in the country. Due to economic growth, it is likely that this number will grow. As a result of the growth of the country's high tech sector, many high tech companies are beginning to invest in Brazil. Google, Freescale, and Intel have all made significant investments in Brazil's technology sector. It can be expected that this will spur further growth of Brazil's high tech sector.

Nigeria:
While the country still hasn't come close to the technological development of much of the western world, the high tech sector in Nigeria is growing. One reason for the growth is the stunning rise of the country's middle class. In the span of only 14 years, Nigeria's middle class has become six times larger. People in Nigeria now have more money to spend on electronics and other high tech gadgets. One of the technologies that is becoming especially commonplace in African countries is smartphones and other types of mobile phones.

Many of Africa's corporate leaders are making the switch into the high tech sector, and it is likely that this will lead to the development of many new successful high tech companies in Nigeria. Google already has a branch of their search engine that is designed for Nigerian residents. In addition, there is already a branch of IBM that is based out of Nigeria. These are just a few examples of the high tech companies that are currently operating in Nigeria.



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