Photographs: Courtesy, Wikipedia Commons
While markets like China and India are showing signs of slowdown, frontier markets continue to be an attractive destination for adventurous investors.
Before an economy is categorized as an "emerging market", it is usually considered a "frontier market". Frontier markets are often characterized by underdeveloped infrastructures, weak legal systems and illiquid capital markets.
As such, they are considered much riskier than most investment classes. However, they often offer extraordinary growth opportunities that eclipse those offered by the more developed EMs.
In a recent report, Citi's Andrew Howell identifies 15 "Frontier" markets that will provide big returns for investors for decades, according to Business Insider.
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15 countries that offer risky but high returns
Photographs: Courtesy, Wikipedia Commons
Argentina
Long-term GDP growth rate: 4.1 per cent
GDP per capita: $10,675
GDP: $435.2 billion
Population: 40.8 million
Adult literacy rate: 98 per cent
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15 countries that offer risky but high returns
Photographs: Courtesy, Wikipedia Commons
Bangladesh
Long-term GDP growth rate: 7.5 per cent
GDP per capita: $764
GDP: $115.0 billion
Population: 150.5 million
Adult literacy rate: 56 per cent
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15 countries that offer risky but high returns
Photographs: Courtesy, Wikipedia Commons
Egypt
Long-term GDP growth rate: 6.3 per cent
GDP per capita: $2,810
GDP: $231.9 billion
Population: 82.5 million
Adult literacy rate: 66 per cent
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15 countries that offer risky but high returns
Photographs: Courtesy, Wikipedia Commons
Ghana
Long-term GDP growth rate: N/A
GDP per capita: $1,546
GDP: $38.6 billion
Population: 25.0 million
Adult literacy rate: 67 per cent
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15 countries that offer risky but high returns
Photographs: Courtesy, Wikipedia Commons
Iraq
Long-term GDP growth rate: 7.6 per cent
GDP per capita: $3,325
GDP: $108.6 billion
Population: 32.7 million
Adult literacy rate: 78 per cent
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15 countries that offer risky but high returns
Photographs: Courtesy, Wikipedia Commons
Kazakhstan
Long-term GDP growth rate: 4.5 per cent
GDP per capita: $11,115
GDP: $180.1 billion
Population: 16.2 million
Adult literacy rate: 100 per cent
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15 countries that offer risky but high returns
Photographs: Courtesy, Wikipedia Commons
Kenya
Long-term GDP growth rate: N/A
GDP per capita: $868
GDP: $36.1 billion
Population: 41.6 million
Adult literacy rate: 87 per cent
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15 countries that offer risky but high returns
Photographs: Courtesy, Wikipedia Commons
Mongolia
Long-term GDP growth rate: 6.9 per cent
GDP per capita: $3,127
GDP: $8.8 billion
Population: 2.8 million
Adult literacy rate: 97 per cent
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15 countries that offer risky but high returns
Photographs: Courtesy, Wikipedia Commons
Nigeria
Long-term GDP growth rate: 8.4 per cent
GDP per capita: $1,521
GDP: $247.1 billion
Population: 162.5 million
Adult literacy rate: 61 per cent
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15 countries that offer risky but high returns
Photographs: Courtesy, Wikipedia Commons
Pakistan
Long-term GDP growth rate: 4.9 per cent
GDP per capita: $1,155
GDP: $204.1 billion
Population: 176.7 million
Adult literacy rate: 56 per cent
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15 countries that offer risky but high returns
Photographs: Courtesy, Wikipedia Commons
Romania
Long-term GDP growth rate: 3.5 per cent
GDP per capita: $8,645
GDP: $185.3 billion
Population: 21.4 million
Adult literacy rate: 98 per cent
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15 countries that offer risky but high returns
Photographs: Courtesy, Wikipedia Commons
Sri Lanka
Long-term GDP growth rate: 6.6 per cent
GDP per capita: $2,795
GDP: $58.8 billion
Population: 21.0 million
Adult literacy rate: 91 per cent
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15 countries that offer risky but high returns
Photographs: Courtesy, Wikipedia Commons
Ukraine
Long-term GDP growth rate: 3.7 per cent
GDP per capita: $3,604
GDP: $162.9 billion
Population: 45.2 million
Adult literacy rate: 100 per cent
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15 countries that offer risky but high returns
Photographs: Courtesy, Wikipedia Commons
Venezuela
Long-term GDP growth rate: 4.3 per cent
GDP per capita: $10,525
GDP: $309.8 billion
Population: 29.4 million
Adult literacy rate: 95 per cent
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15 countries that offer risky but high returns
Photographs: Courtesy, Wikipedia Commons
Vietnam
Long-term GDP growth rate: 7.4 per cent
GDP per capita: $1,370
GDP: $121.6 billion
Population: 88.8 million
Adult literacy rate: 93 per cent
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