As in previous years, British magazine The Economist has chosen the best country of the year. This year, Bangladesh has won the title of The Economist's Country of the Year 2024 for the student-led uprising that ended 15 years of autocratic rule.
According to a report published by The Economist on Thursday (December 19), five countries were in the final shortlist for the title of the best country of 2024. Besides Bangladesh, the other contenders were Syria, Argentina, South Africa, and Poland. After intense debate among The Economist's correspondents, Bangladesh was ultimately selected.
Syria was the runner-up for ousting Bashar al-Assad from power. Additionally, Argentina was recognized for its economic reforms, while South Africa and Poland were shortlisted for forming new governments in opposition to poor governance.
In its announcement, the British magazine clarified that the choice of the best country is not based on wealth, happiness, or moral superiority. Instead, the title is awarded to the country that has shown the most progress in the past 12 months.
Why Bangladesh Stood Out
In its report, The Economist stated, “Our winner this year is Bangladesh.” The report noted that in August, a student-led movement ousted Sheikh Hasina’s government, which had been in power for 15 years. Sheikh Hasina, the daughter of a freedom fighter, had once led Bangladesh’s rapid economic growth. However, over time, her rule turned increasingly repressive, with election rigging, jailing of opponents, and ordering security forces to shoot protesters. Corruption and misappropriation of funds also surged during her tenure.
The report also pointed out the challenges associated with Bangladesh’s political transition, mentioning the history of retaliatory violence during such periods. It described the main opposition party, the Bangladesh Nationalist Party (BNP), as corrupt and highlighted the threat posed by the rise of Islamist extremism. However, it praised the interim government, led by Nobel Peace Prize laureate Muhammad Yunus, which has received support from students, the military, businesses, and civil society. The interim administration has restored order and stabilized the economy.
The Economist's Perspective
The report emphasized that Bangladesh's progress is promising, but challenges remain. The country must restore its relationship with India in 2025 and decide when to hold elections. It must first ensure judicial impartiality and allow opposition parties to organize—none of which will be easy. Still, Bangladesh’s strides toward forming a more liberal government after toppling an autocrat make it deserving of the title this year.
Past Winners
In 2023, Greece won the Country of the Year title for overcoming a prolonged financial crisis and re-electing a moderate, centrist government. Previous winners have included Colombia for ending its civil war, Ukraine for resisting Russian aggression, and Malawi for its strides toward democratization.