Newly Industrialized Countries 2020
The word industrialized refers to a region that has developed industries. This includes tech enterprises, manufacturing, and other industries that bolster the economic activity of the region.
Another term related to industrialization is Newly Industrialized Country, or NIC. This is a term that was created by economists and political scientists to describe countries with economic development that falls between the classifications of First World and developing.
Countries that are classified as NICs have rapid export-driven economic growth and a migration of workers from rural areas to urbanized regions.
There are a handful of nations that are currently categorized as NICs. These nations are:
Most economists and political scientists believe that these are NICs. However, there are a few other nations that are up for debate, including Argentina, Russia, Chile, Sri Lanka, and Egypt.