Bangladesh to be one of 32 top economies by 2050: PwC

Bangladesh has been listed among the top 32 countries dubbed to be the biggest and most powerful economies in 33 years’ time.

In one of its reports by professional services giant PwC looks at which economies around the world will be the formidable forces in terms of long-term global growth projections

up to 2050. With offices in 158 countries and more than 236,000 people, PwC is among the leading professional services networks in the world that helps organisations and individuals create the value they’re looking for, by delivering quality in assurance, tax and advisory services.

The report, titled "The long view: how will the global economic order change by 2050?" ranked 32 countries by their projected global gross domestic product by purchasing power parity. The report places Bangladesh on the 23rd spot with $3.064 trillion GDP in PPP terms, ahead of stronger nations like Australia (28), Spain (26) and Malaysia (24).  

The report says 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, the report says, 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).

As emerging markets mature, they will become less attractive as low cost manufacturing bases but more attractive as consumer and business-to-business markets, according to the report.

Since emerging markets can be volatile, international investors also need to be patient enough to ride out the short-term economic and political cycles in these countries.

With the exception of the USA, many of the world's current powerhouse economies like Japan and Germany will have slipped down global rankings, replaced by countries such as India and Indonesia, which are currently emerging markets.

PPP is used by macroeconomists to determine the economic productivity and standards of living among countries across a certain time period.

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

 

 

Bangladesh to be one of 32 top economies by 2050: PwC

Bangladesh has been listed among the top 32 countries dubbed to be the biggest and most powerful economies in 33 years time. In one of its reports by professional services giant PwC looks at which economies around the world will be the formidable forces in terms of long-term global growth projections up to 2050. With offices in 158 countries and more than 236,000 people, PwC is among the leading professional services networks in the world that helps organisations and individuals create the value theyre looking for, by delivering quality in assurance, tax and advisory services. The report, titled The long view: how will the global economic order change by 2050? ranked 32 countries by their projected global gross domestic product by purchasing power parity. The report places Bangladesh on the 23rd spot with $3.064 trillion GDP in PPP terms, ahead of stronger nations like Australia (28), Spain (26) and Malaysia (24). The report says 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, the report says, 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). As emerging markets mature, they will become less attractive as low cost manufacturing bases but more attractive as consumer and business-to-business markets, according to the report. Since emerging markets can be volatile, international investors also need to be patient enough to ride out the short-term economic and political cycles in these countries. With the exception of the USA, many of the worlds current powerhouse economies like Japan and Germany will have slipped down global rankings, replaced by countries such as India and Indonesia, which are currently emerging markets. PPP is used by macroeconomists to determine the economic productivity and standards of living among countries across a certain time period. But emerging economies need to enhance their institutions and their infrastructure significantly if they are to realise their long-term growth potential.