15 Richest countries in the world by 2050
Just because a country is said to have good economic status now doesn’t always mean that this country would be a rich country all throughout. A country’s wealth is judged by the quality of every living aspect in it from economy to education to infrastructure and even down to the quality of living.
Top 15 Most Richest Countries In The World List
15 Russia ($1.87 trillion)
Political unrest in Russia with western countries wont stop this country from economically growing, according to studies, the working population in Russia is said to 31% shrink. Many countries have put sanctions against Russia because of the ongoing political unrest with Ukraine, not only this, fuel prices have sky rocketed causing severe economic turmoil, by the month on November 2014, the inflation rate 9.1% mark which was biggest hit ever since from the year 2011. But according to studies despite such problems, Russia economy will grow rapidly and exceed that of Australia and Argentina.
14 Spain ($1.9 trillion)
We all have heard the economic break down in Spain that saw the house prices rise to 44% on 2004 and 2008. One third of the housing market was totally wiped out by this housing bubble causing panic. But the 3%average increase in per capital which is expected on 20’s, 30’s and 40’s will catapult Spain to becoming the richest country by the year 2050 even though the current situation in Spain which has seen the reduction of working population to 11%
13 South Korea ($2.06 trillion)
The country has boasted economic success ever since the year 1970 making it in the Top 15 Richest Countries in 2015. But the worry comes from its shrinking workforce as the reduction of fertility in South Korea which has existed for over 20 years. The South Korean government has adopted a mechanism that will boost the economic growth through supporting and giving incentives to the family-owned businesses (Chaebol). This move is intended to create a stimulant that will foresee South Korea to make it on the Top 15 riches countries in the world by year 2050.
12 Turkey ($2.15 trillion)
Unlike South Korea, Turkey has a high fertility rate. This will be a winning factor to the list of Richest Countries by the year 2050 as it shall create a firm economic foundation. The Economic growth of Turkey will surpass that of Netherlands, South Korea, Russia, Spain, Australia and Argentina. Foreign direct investment has risen for the past 5 years by $13 billion, the country has thrived through global economic turmoil as its income per capita has been tripling for the past 10 years.
11 Italy ($2.19 trillion)
Italy is expected to fall off four points from 7th position to the 11th. Despite being on Eurozone which has helped the economy to rise up to 4% for the past 16 years, the shrinking working population has been a worry and now it is projected to hit 23%. Italy will experience slow economic four decades from now.
10 Canada ($2.29 trillion)
Canada stands out to be the 4th Richest Country In The World and for many years it has remained on the same position but by 2050 Canada would be on 12th position because the fuel prices affecting the country.
9 France ($2.75 trillion)
The stagnant economic growth which has averaged 0.3% per year since 2008 will make France lag behind and see it fall three points down making it on 9th position if in the next few years the income per capita will continue to be stagnant.
8 Mexico ($2.91 trillion)
Currently it is the 13th Richest Country in the World. Through President Nieto its economic transformation program which is meant to stimulate economic growth has turned Mexico into a rich country. It is projected that it would leap to the 8th position in the Richest Countries in the World by year 2050.
7 Brazil ($2.96 trillion)
Brazil is one of the biggest economies in the world, Brazil experienced economic meltdown in the years 1986 and 1994. But afterwards it came back strong even though the income per capita has been decreasing. The continued economic growth will see Brazil on 7th position.
6 United Kingdom ($3.58 trillion)
Having been a leader of industrialization, Britain can be said to be the country that stimulated industrialization which we now enjoy in 21th century. But economic upgrade in India will make Britain drop to a point together with Germany.
5 Germany ($3.71 trillion)
Germany has been experiencing reduction in the working force and this is expected to hit 29% making it the Top E.U. country suffering from a shrinking working population but to balance this off there has been heavy funding making it to be one of the largest economies by the year 2050.
4 Japan ($6.43 trillion)
This is one of the countries that has been hit by less working population which stands at a 37% mark. It experiences a big problem when it comes to demographic patterns but despite all this, Japan will still stand out economically to be the 4th richest country by the year 2050.
3 India($8.7 trillion)
India, for so many years, has been taking advantage of the use of technology and the country’s working population is overwhelming. It is projected to be on the top 5 position mostly because of its population and the fact they adopt and adapt well to foreign economic policies.
2 United States of America ($22.27 trillion)
The country standout has been the First Richest Country In The World up until now but by the year 2050, things will be different and it will go down to 2nd place because of its slow economic growth when it comes to income per capita. As for the moment, the country’s economy is twice as much as that of japan.
1 China ($25.33 trillion)
It’s no secret that China is a country whose development has never stopped. The country’s massive economic breakthroughs are key factors making China on the top spot. In 2049, it is expected that China would have absorbed Hong Kong and Macau making sure that its economic growth would be significantly improved in addition to the Chinese boom in the past decades.