Today, it happens to be the fifth most affluent, with a per capita GDP of $42,470, says the Citi report. Canada today has a per capita GDP of $38,640, making it the world's most affluent nation. Photo: Reuters, Growth trajectories must take into account that China is ageing faster than the US. The figures in brackets are the current per capita GDP in US dollars. Despite that India will not feature among the top 10 most affluent nations in the world in terms of per capita GDP. China gdp per capita for 2017 was $8,879, a 8.98% increase from 2016. So which will be the top 10 most affluent nations in terms of per capita GDP in 2050? Currently, Hong Kong is the fourth most affluent nation in the world in terms of GDP per capita at $45,301. Most of the European nations which are among the top 10 today will fall off the list giving way to Asian giants. In other words it is the country's total GDP divided by the population of that country. India's per capita income, often used to measure a country's standard of living, increased by 14.5 per cent during 2009-10 to Rs 46,492, Parliament was informed on Tuesday. The United Kingdom will find a place among the top 10 richest nations in the world by 2050. India Business News | Indian Stock Market News | Bollywood Movies | Indian Cricket News | India News, BRICS not a competitor to developed nations: China, GDP growth expected to drop to 8.8 % in 2012: CMIE, 6 Indians among 111 charged in major US healthcare fraud. China gdp per capita for 2016 was $8,148, a 1% increase from 2015. China's GDP per capita reached 70,892 yuan (10,276 U.S. dollars) in 2019, exceeding the 10,000 U.S. dollars benchmark as the country continued to move towards becoming a "moderately prosperous society" in 2020. Data: PricewaterhouseCoopers. This is an alphabetical list of countries by past and projected gross domestic product per capita, based on official exchange rates, not on the purchasing power parity (PPP) methodology. However, by 2050, the Citi forecast sees Hong Kong becoming the second most affluent with a per capita GDP of $116,639. For 4 weeks receive unlimited Premium digital access to the FT's trusted, award-winning business news, MyFT – track the topics most important to you, FT Weekend – full access to the weekend content, Mobile & Tablet Apps – download to read on the go, Gift Article – share up to 10 articles a month with family, friends and colleagues, Integration with third party platforms and CRM systems, Usage based pricing and volume discounts for multiple users, Subscription management tools and usage reporting, Dedicated account and customer success teams. risks and opportunities. Click NEXT to read on . The slowdown can be blamed on a variety of factors, but the first and probably most important is that China … Although the rich countries of today are expected to be among the rich nations of tomorrow, Citi still forecasts substantial convergence in per capita income. By 2050, it will have garnered a per capita GDP of $96,375 to move up the top 10 list to the number 7 slot. The UK is expected to take up the eighth spot with a per capita GDP of $91,130 in 2050, says Citi. In China and India alone, GDP is predicted to increase by nearly $60 trillion, the current size of the world economy. China gdp per capita for 2018 was $9,977, a 12.36% increase from 2017. Taiwan, which does not feature among the top 10 most affluent nations today, will blaze its way to the 3rd slot by 2050, with a per capita GDP of $114,093, according to the Citi research report. The look on your faces tells me all I need to know!’, The Colorado ski resort with no crowds, no queues — and no lifts, Eddie Hearn: ‘Without me, people wouldn’t be talking about boxing’. However, by 2050, the Citi forecast sees Hong Kong becoming the second most affluent with a per capita GDP of $116,639. This is an alphabetical list of countries by past and projected Gross Domestic Product per … By 2050, says the Citi research report, it will however slip to the 10th spot with a per capita of $90,158. Image: Hong Kong Photographs: Reuters The survey says that even in 2050, Singapore is likely to hold its own and continue to remain the most affluent country in the world in terms of GDP per capita by 2050, at $137,710 per person, the Citi report said. Switzerland will be the ninth most affluent nation in 2050 with a per capita GDP of $90,956. South Korea too does not figure among the top 10 most affluent nations currently. The country's GDP per capita was below 1,000 U.S. dollars in the year 2000. The next pandemic: where is it coming from and how do we stop it? Norway, Australia, and the Netherlands are expected to fall off the list of top 10 richest countries by GDP per capita, the study says. India’s global GDP ranking at PPPs by 2050 (behind China but ahead of the US) 9%. However, according to a study -- Global Growth Generators: Moving beyond 'Emerging Markets' and 'BRIC' -- conducted by global financial giant Citi, India will emerge as the world's number one economy and have a per capita GDP of $40,000 by the year 2050. Measured at 2010 PPP US dollars per capita, Singapore is the most affluent country today with a per capita GDP of $56,532, according to the Citi study. Dan Kopf. Austria, with a per capita GDP of $39,073 today, is the world's eighth most affluent nation. The slowdown can be blamed on a variety of factors, but the first and probably most important is that China is getting older. A man walks through the Lujiazui financial district in Pudong, Shanghai. "Developing Asia and Africa will be the fastest growing regions, in our view, driven by population and income per capita growth, followed in terms of growth by the Middle East, Latin America, Central and eastern Europe, the CIS, and finally advanced nations of today," the report said. Expert insights, analysis and smart data help you cut through the noise to spot trends, The more than tenfold growth has been supported by greater buying power as the economy has been … China's GDP growth slowed from 9.5 per cent in 2011 to 6.6 per cent in 2018. . Join over 300,000 Finance professionals who already subscribe to the FT. 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Currently, the world's most affluent nations according to Citi are: Singapore ($56,532); Norway ($51,226); USA ($45,511); Hong Kong ($45,301); Switzerland ($42,470); the Netherlands ($40,736); Australia ($40,525); Austria ($39,073); Canada ($38,640); and Sweden ($36,438). Per capita GDP, which helps indicated a country's standard of living and affluence of its citizens, refers to an approximation of the value of goods and services produced per person in the country. China gdp per capita for 2019 was $10,262, a 2.86% increase from 2018. According to the report, the oil-rich kingdom will be the Middle East's richest economy in terms of GDP per capita by 2050, with Saudis earning $98,311 per annum on average by 2050. Should India's super-rich pay more taxes. Values are given in USDs and have not been adjusted for inflation. Saudi Arabia is expected to emerge as the sixth richest economy of the world in terms of per capita GDP by 2050, the Citibank forecast has said. This report sets out our latest long-term global growth projections to 2050 for 32 of the largest economies in the world, accounting for around 85% of world GDP. Its per capita GDP is expected to be $100,802 in the next four decades.
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