South Africa may be one of the largest economies globally by 2050
A recent PwC report detailing where they preview the world in 2015 and what the largest economies in the next 30 years will be says there may well be hope for the South African economy. The report forecasts that South Africa will be among the 30 largest economies in 2050.
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PwC has released a report on the World in 2050 and which countries will have the largest economies in the next three decades.
According to the report, South Africa is set to be among the 30 largest economies globally come 2050.
The cumulative global GDP is predicted to be 130% between 2016 and 2050. China's share of the international GDP by 2050 is predicted to stand at 20%.
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According to IOL, India is set to come in just behind China with the second largest economy globally.
One of the key findings of the analysis showed that the world economy could expand by double it's current size due to advancements in technology driven productivity.
The economy's of developing countries however will need to improve institutions and infrastructure substantially if they hope to meet their potential long-term growth.
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Source: Briefly News
