Democracy is a better bet. For every China, Singapore, or Taiwan where autocratic rule was a success, there are 100 examples in the rest of the world where autocratic rulers abused their powers and the population suffered.
If you playing the odds, democracy is the best bet, but there are examples where countries progressed without it.
Nope, all the instances where a 3rd world country progressed to 1st world status since WW2 has been under dictatorship - Singapore, South Korea, Taiwan and Hong Kong.
China is almost 1st world in 2022 and that is under a non-democratic system.
Democracy is only useful after a country has reached a certain level of development. When a country is poor and the population uneducated democracy becomes a hindrance to economic development.