In December 2016, for the first time in 100 years, India surpassed UK’s economy in terms of GDP. With emerging economies growing at a rapid pace, there is going to be a paradigm shift in the overall economic and financial situation globally. PricewaterHouseCoopers (PwC) has recently released a report titled - The long view: how will the global economic order change by 2050? In this report, PwC has ranked 32 countries according to their projected gross domestic product (GDP) in 2050. Purchasing power parity (PPP) has been used to arrive at the projections.

India has been ranked second with a projected GDP of $44.128 trillion, surpassed only by China . The other South Asian countries that have managed to secure a rank in this list are Pakistan (ranking at #16), Iran (ranking at #17) and Bangladesh (ranking at #23) with the projected GDP of $4.236 trillion, $3.900 trillion and $3.064 trillion respectively. Below is the complete list of the 32 countries along with their projected GDPs:

32. Netherlands — $1.496 trillion.

31. Colombia — $2.074 trillion.

30. Poland — $2.103 trillion.

29. Argentina — $2.365 trillion.

28. Australia — $2.564 trillion.

27. South Africa — $2.570 trillion.

26. Spain — $2.732 trillion.

25. Thailand — $2.782 trillion.

24. Malaysia — $2.815 trillion.

23. Bangladesh — $3.064 trillion.

22. Canada — $3.1 trillion.

21. Italy — $3.115 trillion.

20. Vietnam — $3.176 trillion.

19. Philippines — $3.334 trillion.

18. South Korea — $3.539 trillion.

17. Iran — $3.900 trillion.

16. Pakistan — $4.236 trillion.

15. Egypt — $4.333 trillion.

14. Nigeria — $4.348 trillion.

13. Saudi Arabia — $4.694 trillion.

12. France — $4.705 trillion.

11. Turkey — $5.184 trillion.

10. United Kingdom — $5.369 trillion.

9. Germany — $6.138 trillion.

8. Japan — $6.779 trillion.

7. Mexico — $6.863 trillion.

6. Russia — $7.131 trillion.

5. Brazil — $7.540 trillion.

4. Indonesia — $10.502 trillion.

3. United States — $34.102 trillion.

2. India — $44.128 trillion.

1. China — $58.499 trillion.

With the increase in GDP, the South Asian population will have increased portion of their income to spend on education, thus increase in demand for quality higher education. UK institutions should keep their focus on India, Iran, Pakistan and Bangladesh. SIEM offers multiple platforms – both face to face and digital to engage with the prospective students in India. To explore our platforms across India, Pakistan and Bangladesh (we currently don’t offer SIEM services in Iran) please write to  Aatreyee.guhathakurta@britishcouncil.org  with a copy of the e-mail to SIEM South Asia.

To read the full article: http://www.independent.co.uk/news/business/these-will-be-the-32-most-powerful-economies-in-the-world-by-2050-a7587401.html?cmpid=facebook-post