15 Richest Countries of the Future

Most people are interested in how the future will look. Although it is impossible to predict it accurately, there are a few analysts who, using data and knowledge, can create rough assumptions about what will happen in the coming years. However, predictions cannot be made for just one person, but are done at the level of the entire country, reports Luxatic.

One way to predict the future of a country is to observe how wealthy it will be in the future. Although there will certainly be changes regarding politics and economic movements, certain analysts, based on various data such as expected GDP growth, corruption, educational and legal systems, and fertility rates, can arrive at approximately accurate predictions.

The Hong Kong and Shanghai Banking Corporation (HSBC) has published a detailed study of 100 countries that potentially shows which country will be the richest by 2050. We bring you an overview of the top 15 countries on the list.

15. Russia

Photo: Youtube

Despite the decrease in the working-age population and current problems, Russia has earned its place on the list. The country’s economy shows signs of stabilizing and growth in the future despite the conflict with Ukraine, which has cast a negative light on Russia and caused international sanctions that led to increased inflation.

>>>EU extends sanctions against Russia for an additional six months

Another misfortune that has befallen the Russian economy is the drop in oil prices, as well as a decline in population. Despite this, HSBC has optimistic predictions that GDP per capita will grow to as much as $1.87 trillion by 2050.

14. Spain

Photo: Youtube

Last year was tough for the Spanish economy. The rise in prices until 2008 and a reduction in the workforce by 11 percent, combined with the economic crisis, brought Spain to the brink of bankruptcy.

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However, analysts expect Spain’s GDP to rise from $771 billion to $1.95 trillion, driven by a slight increase in population and a significant rise in income per capita.

13. South Korea

Photo: Youtube

South Korea has faced problems with declining fertility rates over the past few decades, leading to a reduction in the workforce.

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Nevertheless, the country’s economy continues to grow due to government support for companies aiming to transform South Korea into a technocratic society, which will lead to impressive progress in the coming years. The expected GDP by 2050 should be around $2.06 trillion.

12. Turkey

Photo: Youtube

In recent years, Turkey has seen significant workforce growth due to rising fertility rates. Income per capita has nearly tripled, while the rest of the countries in the region have faced severe crises.

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These indicators are reasons to believe that Turkey’s economy will continue to grow dramatically in the coming years, which is why GDP could reach $2.15 trillion by 2050.

11. Italy

Rome, Photo: YouTube

Italy’s economy has grown at the slowest rate in the entire EU over the past 16 years, only 4 percent. Although the economy will slow down in the coming years due to a declining workforce, by 2050, Italy will be one of the richest countries with a GDP of $2.19 trillion.

>>>The number of employed is also rising in Italy, a record in November

10. Canada

Photo: Youtube

When it comes to the economy, Canada represents a pillar of stability. While the economies of some countries are slowing down, and others are speeding up, Canada’s remains unchanged.

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The banking system of this country is one of the most stable in the world, and the population is expected to grow to 44 million by 2050. During the same period, GDP will reach $2.287 trillion, which is why Canada ranks high at 10th place on the list.

9. France

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Although France currently ranks fifth, HSBC analysts expect that turmoil within the EU will take its toll, causing the French economy to stagnate and placing France in ninth place by 2050.

>>>Due to stronger investments and production, the French economy grew more than forecasted

By then, GDP will amount to $2.75 trillion, and France will be surpassed by countries like Brazil, India, and Mexico.

8. Mexico

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With a population of about 120 million, Mexico is one of the largest economies in the world that is continuously growing, which will further improve overall productivity and well-being.

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Enrique Pena Nieto was elected for a six-year presidential term in 2012, and thanks to his efforts, noticeable improvements have been made in the energy and financial sectors as well as in education. By 2050, GDP could reach $2.81 trillion.

7. Brazil

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After a difficult period of high inflation that ended in 1994, the Brazilian economy managed to recover thanks to a significant increase in the workforce.

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Efforts to combat crime and improve living standards have contributed to economic growth, and GDP could rise to $2.96 trillion.

6. United Kingdom

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According to data, it seems that the gap between Britain and Germany is slowly closing, and the wealth difference between the two countries will be much smaller than it is today. Thanks to close ties with the USA and Japan, Britain will progress at a higher rate than most European countries.

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For example, while the French economy grew at an average rate of 0.3 percent per year, Britain records growth of 3.2 percent. By the end of the next three decades, the GDP of that country could rise to $3.58 trillion.

5. Germany

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Germany will maintain its position as the strongest economy in Europe over the next decades, with an estimated GDP of $3.71 trillion by 2050. Although the population will decrease by 11 million, income per capita will rise.

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At the same time, the German working population continues to decline, but this problem is mitigated by good investments and stable economic infrastructure, so the economy will continue to grow.

4. Japan

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Although Japan is facing problems related to population decline, with an estimated drop from 127 million to 102 million by 2050, increased average age, and a smaller working population, the economy will continue to grow.

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Experts estimate that Japan’s GDP will rise from last year’s $4.88 trillion to $6.43 trillion by 2050, which is why Japan will remain one of the strongest economic powers in the world.

3. India

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Despite positive predictions regarding the Japanese economy, India will occupy a better position in the overall ranking. With an incredible population growth, from today’s 1.35 billion to 1.6 billion by 2050, India will surpass China as the most populous country.

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In economic terms, India’s GDP will quadruple to $8.17 trillion due to a combination of rapidly growing sectors, a huge increase in the workforce, and the application of modern technology.

2. USA

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Although the USA is currently facing numerous problems that will not disappear quickly, the economy will continue to grow. The main factors influencing this are stable institutions and a high fertility rate, which will result in an increase in the population to about 86 million in the future.

>>>Unemployment rate in the USA at 4.1 percent, the lowest level in 17 years

GDP will reach an estimated $22.27 trillion, making it the second most powerful economy in the world.

1. China

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It is no surprise that, from an economic standpoint, China will dominate the world in the near future. Experts believe that the efforts of the Chinese authorities to maintain a stable population through the one-child policy and a fully modernized society will be factors driving the economy.

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After China integrates the regions of Hong Kong and Macau into its economy, GDP will reach a staggering $25.33 trillion by 2050, making China the most powerful economy.