The long view: how will the global economic order change by 2050?

#world2050



130%

Cumulative global GDP growth between 2016 and 2050

20%

China’s projected share of world GDP at PPPs by 2050

2nd

India’s global GDP ranking at PPPs by 2050 (behind China but ahead of the US)

9%

EU27’s share of global GDP at PPPs by 2050 (excluding UK)

Key findings

This report sets out our latest long-term global growth projections to 2050 for 32 of the largest economies in the world, accounting for around 85% of world GDP.

Key results of our analysis (as summarized also in the accompanying video) include:

The world economy could more than double in size by 2050, far outstripping population growth, due to continued technology-driven productivity improvements

Emerging markets (E7) could grow around twice as fast as advanced economies (G7) on average

As a result, six of the seven largest economies in the world are projected to be emerging economies in 2050 led by China (1st), India (2nd) and Indonesia (4th)

The US could be down to third place in the global GDP rankings while the EU27’s share of world GDP could fall below 10% by 2050

UK could be down to 10th place by 2050, France out of the top 10 and Italy out of the top 20 as they are overtaken by faster growing emerging economies like Mexico, Turkey and Vietnam respectively

But emerging economies need to enhance their institutions and their infrastructure significantly if they are to realise their long-term growth potential.



Population growth will be a key driver of GDP growth in many emerging markets, such as Nigeria, Pakistan and India. But a key challenge will be to create enough jobs in these economies for their young people.
Nigeria, Pakistan and India will experience some of the greatest population growth to 2050, but growth in average GDP per capita are projected to be relatively less strong in these economies.

According to Dr.Andrew S. Nevin, Chief Economist, PwC Nigeria: “Nigeria’spotential advantages for future growth include a large consumer market, a strategic geographic location as a hub for Africa, and a young and entrepreneurial population. The first step in harnessing this opportunity requires deliberate efforts to improve value-adding activity in the non-oil economy, particularly in agriculture and services.”

https://www.pwc.com/gx/en/world-2050/assets/pwc-world-in-2050-slide-pack-feb-2017.pdf
https://www.pwc.com/gx/en/issues/the-economy/assets/world-in-2050-february-2015.pdf
https://www.pwc.com/gx/en/issues/economy/the-world-in-2050.html
https://www.pwc.com/gx/en/world-2050/assets/pwc-the-world-in-2050-full-report-feb-2017.pdf

OK, some one should wake me up if this post finally make front page.

Well, Nigeria is already above Egypt

Looking at Spain, Italy, Poland, Australia and Netherlands

Nice one

Good

If kwarapshun will allow us.

..

.

J

that is if there will still be a country call NIGERIA by 2050!

Bullocks

Biafra's data nko?

No restructuring no growth for nigerian....alll this na same old story

I no dey believe this joreh, if we happen to have 5 of GEJ and the world stops using oil as 2025 has been set as due date for so many countries.

Will this still work

haryorbarmie83:
.

Comment if you want to comment, stop booking space.

Dats how we have been projecting dat "E go beta" since and we are still not beta off from 10yrs ago. We like projections a lot but hardly want to do anything like putting frameworks in place to achieve d said goals. Ordinary lite we neva dey produce enough, our govt is still wholly dependent on oil and still looking for more.

Let"s wait and see..God has the final say

Check out my signature for quality and durable furniture

Nigeria economy be like.....

This confused analyst...
Nigeria is far above Egypt

Who e help?! Buhari till den!

naturalman:
This confused analyst...

Nigeria is far above Egypt

The data is from 2016

India above US? LMAO

tens4real:
that is if there will still be a country call NIGERIA by 2050!

Abi if person wey dey behind this account go still dey by 2050..Soldier go,soldier come..barracks remain

Sweetguy25:
India above US? LMAO

Why is that strange?

Nigeria, Pakistan and India will experience some of the greatest population growth to 2050, but growth in average GDP per capita are projected to be relatively less strong in these economies.

This statement summarizes our situation aptly. Increases in GDP would result primarily from increases in population. Poverty will everly remain high.