Philippines ranked 6th among fastest growing economies

Among the world economies, Knight Frank and Citi Private Wealth’s 2012 Wealth Report predicted the Philippines to be one of the top 10 fastest growing economies in the world.

According to their research, Philippines will be the 6th fastest growing economy in the world between the years 2010-2050. They have predicted 7.3% GDP growth for the Philippines in those years.

Citi research also sees that developing Asia’s share of world real GDP will increase to 49% in 2050 from 27% in 2010. They also predicted China to overtake US as the world’s largest economy by 2020. But India will overtake China by 2050.

According to that Citi’s 2012 Wealth Reports, the top 10 fastest growing economies which also comprises the Global Growth Generators or 3G Countries were;

1. Nigeria – 8.5% growth
2. India – 8% growth
3. Iraq – 7.7% growth
4. Bangladesh – 7.5% growth
5. Vietnam – 7.5% growth
6. Philippines – 7.3% growth
7. Mongolia – 6.9% growth
8. Indonesia – 6.8% growth
9. Sri Lanka – 6.6% growth
10. Egypt – 6.4% growth

Meanwhile, the countries which were forecasted to post the least growth in the next 40 years were;

1. Spain
2. France
3. Sweden
4. Belgium
5. Switzerland
6. Austria
7. Netherlands
8. Italy
9. Germany
10.Japan

*Source ABS-CBNnews.com

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