Accountancy firm PwC has just released a report outlining growth forecasts to 2050 for 32 of the largest economies in the world. It counts down where it predicts these countries will be in 2050 based on GDP at Purchasing Power Parity (PPP), which allows for a more accurate measure of what countries will be producing.
The second highest mover, the Philippines is forecast to have the world's 19th largest economy in 2050, up from the 28th in 2016. Although the country's economic performance is expected to be robust, PwC predicts strong population growth will be the main driver.
This forecast by PwC emphasis the huge potential of the Philippines to develop it's economy, and it should offer encouragement to existing or potential expats.