Newly industrialising countries (NICs) are lower-income nations that are experiencing rapid economic growth and a significant shift towards industrial production and manufacturing, leading to a fast transition towards becoming higher-income countries with more developed economies. These countries often attract foreign investment, develop their infrastructure, and increase their participation in global trade, experiencing a rise in their standard of living and a more diversified economy beyond traditional agriculture or resource extraction. Examples of NICs include countries in Southeast Asia, Latin America, and parts of Eastern Europe that have achieved significant economic progress in recent decades. The process of industrialisation in these countries often brings about significant social and economic changes, including urbanisation, the growth of a middle class, and shifts in employment patterns.