Turkey’s Economic Vision for 2050

How will the global economic system change by 2050?

This is a subject of a report prepared by the HSBC Bank. The report indicates the latest long-term global growth projections until 2050 for the largest 32 economies of the World; together accounting for around 85% of world GDP. The world economy could more than twofold in size by 2050, far outstripping population increase, due to continued technological advances in productivity.

Here are some key findings from that report about the economic projection of 2050

According to the report, The Turkish economy will surpass the economy of many countries which today contribute to the global economy substantially; such as South Korea, Russia, the Netherlands, Spain, Argentina, Australia, and Sweden. Turkey is expected to rank 12th https://www.hsbc.com.mx/1/PA_esf-ca-app-content/content/home/empresas/archivos/world_2050.pdf in the list of the largest economies by 2050.

The report also states that China will rank 1st in the list of the largest economies by 2050. UK might fall down to the 10th place, France leaving the top ten entirely and Italy might not even make it into the top 20. This is attributed to faster growing emerging economies like Turkey, Mexico and Vietnam, respectively.

The HSBC Bank has focuses on the following criteria to come to its conclusion: the size of the workforce, worker usage ratio, worker population ratio and the rate of aging. These criteria are favorable for Turkey’s rank in the study, as they are some of its biggest strengths.

According to the report the labor force proportion rises due to an increasing birth rate. The HSBC analysts expect this to raise Turkish national income.

Forecasts in the report for the Turkish national income increase per capita:

Between 2010 and 2020, 4%

Between 2020 and 2030, 3.9%

Between 2030 and 2040, 3.8%

Between 2040 and 2050, 3.7%

The conclusion of the report mentioned that it is trusted that Turkey is a success story with long-term potential and it is trusted that Turkey is a state based on sound foundations and possesses a perfect demography. It can produce impressive growth in the near future that deserves all the appreciation and admiration an investor can have.

Last Updated: 24.1.2019 22:31:32