The Philippines could be one of the richest countries in the world by 2050
Amidst news of the Philippine peso hitting its lowest slump in a decade, a new report from professional services network PricewaterhouseCoopers has predicted the 32 most powerful economies in the world by 2050, based on projected global GDP and purchasing power.
In 33 years' time, the global economy could "more than double in size, far outstripping population growth due to continued technology-driven productivity improvements," writes Bill Martin, a reporter for Business Insider.
"Many of the world's current powerhouse economies like Japan and China will have slipped down global rankings, replaced by countries such as India and Indonesia, which are currently emerging markets," adds Martin.
The full report by PwC looks into "economic productivity" and "standards of living" across a certain period. The Philippines makes the 19th spot, while the United States has been overtaken by China and India.
All numbers cited below are in US dollars:
32. Netherlands — $1.496 trillion
31. Colombia — $2.074 trillion
30. Poland — $2.103 trillion
29. Argentina — $2.365 trillion
28. Australia — $2.564 trillion
27. South Africa — $2.570 trillion
26. Spain — $2.732 trillion
25. Thailand — $2.782 trillion
24. Malaysia — $2.815 trillion
23. Bangladesh — $3.064 trillion
22. Canada — $3.1 trillion
21. Italy — $3.115 trillion
20. Vietnam — $3.176 trillion
19. Philippines — $3.334 trillion
18. South Korea — $3.539 trillion
17. Iran — $3.900 trillion
16. Pakistan — $4.236 trillion
15. Egypt — $4.333 trillion
14. Nigeria — $4.348 trillion
13. Saudi Arabia — $4.694 trillion
12. France — $4.705 trillion
11. Turkey — $5.184 trillion
10. United Kingdom — $5.369 trillion
9. Germany — $6.138 trillion
8. Japan — $6.779 trillion
7. Mexico — $6.863 trillion
6. Russia — $7.131 trillion
5. Brazil — $7.540 trillion
4. Indonesia — $10.502 trillion
3. United States — $34.102 trillion
2. India — $44.128 trillion
1. China — $58.499 trillion
