Future Drivers of Growth in Rwanda: Innovation, Integration, Agglomeration, and Competition

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A strong and widely acknowledged record of economic success -- including a three-and-half fold increase in per capita income since 1994 -- places Rwanda among the world's fastest growing economies, surpassed on the continent only by Ethiopia. Traumatic memories of the 1994 genocide are gradually beginning to fade, as associations begin to take a more positive form -- of a nation on the rise, powered by human resilience, a sense of common purpose, and a purposeful government. Past successes and a sense of frailty have fueled aspirations of a future of security, prosperity, and modernity. Sustaining high rates of economic growth is at the heart of these ambitions. Recent formulations of the nation's Vision 2050 set a target of achieving upper middle-income status by 2035, and high-income status by 2050. This report, a joint undertaking by experts from Rwanda and the World Bank Group, seeks to evaluate the country's possibilities and options in this endeavor.