Turkey will compete with economic giants in 2050

In a report prepared by the British Bank HSBC under the title of "The World in 2050" predicating the levels of the world's economy >>

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2016-10-04 Last update 2020-04-23

Turkey will compete with economic giants in 2050

In a report prepared by the British Bank HSBC under the title of "The World in 2050" predicating the levels of the world's economy in 2050, Turkey, according to the report, shall rank 12th  in the list of the largest economies in the world by 2050.

The report said that the Turkish economy will overcome the economy of many countries which today contribute to direct the global economy; such as Russia, South Korea, the Netherlands, Argentina, Spain, Australia and Sweden. According to the report's list of countries, Russia will rank 15th in the list of the largest economies in the world in 2050.

The British bank adopted the following standards in preparing the report:

  •  Worker usage ratio.
  •  Worker population ratio.
  •  The size of workforce.
  •  The rate of aging.

However, the report attributes the reasons behind the rise of Turkey into such a high rank in the list of the largest economies in the world. It was, according to the report, the result of the workforce proportion increase due to the increasing in the birth rates, taking into consideration the expectations of the Turkish national income increase.

The report forecasts for the Turkish national income increase per capita were as the following:

  •  4% between 2010 and 2020.
  •  3.9% between 2020 and 2030.
  •  3.8% between 2030 and 2040.
  •  3.7% between 2040 and 2050.

The conclusion of the report mentioned that it is believed that Turkey is a tale of a very strong long-term success, and it is believed that Turkey is a state based on sound foundations and possesses an excellent demography, and can achieve growth in the near future that deserves all the appreciation and admiration.

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