2008 was a mess. Everything changed from great to being a disaster. The markets were down and most of the world’s leading economies slipped into recession.

For most of the world 2009 is not looking any brighter. The United States, Great Britain, France, Germany and Japan are all expecting a standstill of their economies or a recession.

For the first time in decades we are facing a situation where the fastest growing economies will be countries that are virtually unheard of in the western world.

5 fastest growing economies in 2009

Here is a list of top 5 fastest growing countries as predicted by The Economist.

5. China – 8% GDP Growth

China is the only superpower that makes the list of fastest growing countries in 2009. This second largest exporting country (Germany is no 1) has the world’s largest population of 1.3 billion potential consumers. While the rich world is in recession and Chinese exports are taking a hit – China is relying on the growing demand for products from its own people. Thanks to the expanding middle class Chinese economy is as strong as ever.

4. Malawi - 8.3% GDP Growth

This small southeast African country is one of the poorest in the world. For the last few years it has had a democratic government that is rapidly increasing living conditions throughout the country. In addition to having large uranium deposits Malawi is mostly known as an exporter of tobacco, coffee, sugar and tea.

After president Bingu wa Mutharika started a fertilizer program intended to boost crop production Malawi is doing better than ever. The program has radically improved agriculture and allows to export more goods – thus leaving Malawi unaffected from the global recession.

3. Congo (Brazzaville) – 8.5% GDP Growth

This central African country gets most of its income from selling oil, gas and petroleum. Most people live in the capital Brazzaville or in one of the small cities along the countries one and only 332-mile (534 km) railway.

In 1997 a 5 month civil war erupted in Congo – when it ended, president Sassou Nguesso expressed interest in economic reforms with the intent to take the country out of poverty. This reforms are still taking place today.

2. Angola – 9.8% GDP Growth

Just like in the rest of the world – economy in Angola is actually slowing down. In 2005 and 2006 it boasted with economic growth of around 20%. Almost all of the countries economic growth comes from oil and Angola’s ability to sell more of it every following year.

Angola has increased its oil production so much that as of 2007 it is the largest supplier of oil to China.

1. Qatar – 13.4% GDP Growth

It seems that being one of the richest countries in the world is not enough for Qatar. While being a poor country in the past, Qatar discovered huge reserves of oil and gas in the 1940-s,that completely transformed its economy.

Qatar offers most of its services to its citizens for free and has no income tax. The amount of money they get from selling oil is more than enough for their small yet thriving economy.

Never heard about most of these countries?

Don’t worry – neither have your friends. If you leave China out of this list then the combined gross domestic product for Qatar, Angola, Congo and Malawi is about the same as the GDP of Hong Kong (and Hong Kong is just 1 city – although very large).

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Have you noticed how everyone is talking about the high gas prices lately? Aren’t you fed up already? I am!

Talking about high gas prices seems to be the new national past time. A lot of people offline and even more online, are suddenly talking about how much they have to pay for gas.

There is also a growing number of people telling you that the current prices are nothing – you should see the gas prices in Europe! It’s true that the gas in Europe costs about $8 to $9 per gallon on average and even a bit more in some countries.

High prices make me feel bad.

If you know that it’s even worse somewhere else, it won’t make you happy. Just the opposite – It makes me feel even worse!

10 countries with cheapest gas

Today I am trying to make everyone a bit happier! Here is a list of 10 countries that have the cheapest gas prices in the world!

10. United Arab Emirates – $1.40/gallon or $0.37/liter

United Arab Emirates is a nice country to live in. In addition to having one of the cheapest gas prices in the world they are also the 4th rich country in the world.

Did you know that Ferrari Enzo takes a lot more gas than Toyota Prius? Thinking about it this way, makes it only logical to have super cheap gas for super rich people and there super expensive cars!

9. Egypt – $1.21/gallon or $0.32/litre

Starting from 1979 Egypt has gotten an average of $2.2 billion a year as foreign aid from the US. It’s only fair – the money to buy all that cheap gas has to come from somewhere!

8. Bahrain – $1.02/gallon or 0.27/liter

This small island country has a total area of only 266 mi² (665 km²). If you decide to drive around the island you should know that this trip will be about 100 miles (161 km). So why not give the people gas with dirt cheap prices? How much gas do they need anyway? It’s not like there are some far away destinations you could drive to.

7. Qatar – $0.83/gallon or $0.22/litre

If you would be the government of this second richest country in the world you wouldn’t want the people to pay too much for gas. After all – they can get mad at you if they don’t have enough money to buy their second airplane! So of course, it makes sense to keep gas prices really low in Qatar.

6. Kuwait – $0.79/gallon or 0.21$/liter

It’s pretty much the same deal in Kuwait as in Qatar! But Kuwait is only the 4th richest country in the world, so it makes sense that gas in Kuwait is a bit cheaper than in Qatar! People in Kuwait probably can’t afford the prices Qatar has!

5. Saudi Arabia – $0.45/gallon or $0.12/litre

When King Abdullah of Saudi Arabia visits foreign countries he usually goes with 6 planes – 1 for himself and his sons and another 5 for his closest friends. Everyone knows that planes consume a lot of fuel! Now if they would only lower the price a little bit they could afford to take with them that 7th personal Boeing 747.

4. Iran – $0.42/gallon or $0.11/liter

At current rate of production it is estimated that Iran will run out of oil in 74 years. They are trying to get rid of it faster by giving it away with really cheap prices.

3. Nigeria – $0.38/gallon or $0.10/litre

Nigeria has the 10th largest oil reserves in the world. They also have about 150 million people and a history of violence. Mix this with a government that is corrupt and want to keep the money they get from selling oil to other countries for more than $4/gallon (about $1.1/liter) it makes sense that they keep the local prices down. You don’t want to make the people mad, overthrow the government and kill everyone they don’t like! You can’t use the money after you die, can you?

2. Turkmenistan – $0.30/gallon or $0.08/liter

Turkmenistan is by far the coolest country on the list. Until December 2006 it was ruled by president for life Saparmurat_Niyazov. Some cool things he has done:

• Officially named the months of the year after his family members
• Won a “democratic election” with 99.9% of the votes!
• Closed down all rural libraries – “Ordinary Turkmenistan people don’t read books”

1. Venezuela – $0.19/gallon or 0.05$/litre

Venezuela is run by president Hugo Chavez – a quite well known guy for those who are following international politics. He is a lot into socialism. This includes having the state take control of privately held companies and doing pretty much whatever he thinks helps his people to have a better life.  The nice thing is that when he does something major he always asks the opinion of the people! If you had to vote would you rather choose high or low gas prices?

Take a road trip

Next time you are going on a road trip consider these countries. Cheap prices and guaranteed experiences!

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If you live on any of the above countries there is probably no need to check out the following post

10 ways to cut down on fuel costs

Here is a top 10 list of worlds richest countries according to CIA World Factbook and Wikipedia measured by GDP per capita. For those in the dark – GDP or Gross Domestic Product – is the value of all the goods that a country produces. GDP per capita stands for the value an average person produces.

10. Switzerland – $39,800 (GDP per capita)

This cheese making country is considered to be one of the most neutral countries in the world. During World War 2, people from other European countries deposited their money in the banks of Switzerland, knowing that their money would be safer there than in their home countries. Some well known Swiss companies include Nestle, Logitech, Rolex and Credit Suisse.

9. Equatorial Guinea – $44,100

The Republic of Equatorial Guinea is a country in Central Africa. Most people have never heard of it. This country flew into stardom after 1996 when large oil reserves were found in the nation of only 0,5 million people. While being one of the largest producers of oil in Africa, little has been made to improve the living conditions of the people. Corruption is widespread and ordinary people are mostly living in poverty. The gap between rich and poor is probably the largest in the world.

8. Ireland - $45,600

This member of European Union has been often admired as one of the most modern knowledge economies in the world. Ireland is the largest maker of computer software in the world. A study done by The Economist ranked the Celtic Tiger to have the best quality of life in the world.

7. United States – $46,000

What sets the US apart from most other countries in this list is its size. While most other countries in this list are among the smallest in the world the US has a population of over 300 million and a total land area of 3,79 million square miles (9.83 million sq km). The US is also home to the largest amount of billionaires in the world. It is speculated that as many billionaires live in the US as in the rest of the world.

6. Singapore – $48,900

This tiny country consists of 63 island and some mainland with a total area of only 270 square miles (704 sq km). With Hong Kong, South Korea and Taiwan it is considered one of the Four Asian Tigers. Singapore has the busiest port in the world and is the 4th largest foreign exchange trading center in the world. Singapore is widely believed to be the most business-friendly economy in the world.

Page 2 – The Top 5 richest countries in the world