Citigroup and property consultancy Knight Frank are looking into the future. Way into the future. Their 2012 Wealth Report predicts the state of the world’s wealth in 2050.
The report forecasts Singapore will be the world’s wealthiest country by 2050, reaching a per-capita GDP of $137,710 (US). Hong Kong, South Korea, and Taiwan will also rank in the top four richest countries in the world.
The United States will slip from third richest in the world to fifth riches, predicts the report. And, how will Canada do? If the report is right, the country will see its position rise from ninth place today to seventh place in 2050.
Switzerland, Austria, Saudi Arabia and the United Kingdom will round out the top ten in 2050.
The report further predicts that by 2050 half of the world’s economic output will be by Asia. Today, it is at 27 per cent.