After BRICs, Goldman Sachs names another eleven promising economies

In Global Economics Paper No.134 “How Solid are the BRICs?” (pdf file), Goldman Sachs names another eleven economies that may emerge as important players by 2050. They are (in alphabetic order): Bangladesh, Egypt, Indonesia, Iran, Korea, Mexico, Nigeria, Pakistan, Philippines, Turkey, Vietnam. Goldman Sachs names them N11 (i.e., the Next Eleven).

P.S. I would say GS forgets another important economy: the Hispanic population of the United States! According to another GS report "The Hispanization of the United States", by 2030, Hispanic/Latino population in the United States will reach 73 million, or 20% of US population. The Latino US is going to become an important emerging (or even industrialized) economy! Be prepared for it.

GS believes that following BRICs (Brazil, Russia, India and China), these eleven economies may become influential by 2050 because of the projected size of their economies.

Among them, Korea and Mexico are particularly important. Mexico will become the sixth-largest economy. By 2050, Korea will become richer (in income per capita) than any  of the current G7s (Canada, France, Germany, Italy, Japan, U.K., U.S.) except the U.S.  GDP per capita of Korea will reach 81,462 USD (in market exchange rate) in 2050, if everything goes smoothly, while Mexico’s will reach 52,990 USD. U.S.’s GDP per capita, standing at 89,663 USD in 2050,  will be still slightly richer than Korea’s.

Currently, US’s GDP per capita stands between 42,000 and 43,000 USD/year, and Korea’s GDP per capita will reach this level between year 2015 and 2020, which is not very far away from now.

In a previous post in the Bulletin, I also discussed why Korea has potentials to become an economic and geopolitical regional power.

Comments

[Reinhard Fellmann]

Hello,

this story sounds great. The N11 states have high potenial in the market. But the stock market isn't open for privat investors.

Now, I would like to know, if Goldman and Sachs make N11-products, for example a N11-fund comparing to BRIC fund?

Tell me your information, if you know more.

Thanks a lot

Reinhard Fellmann
Commerzbank Germany
Stock Manager

[Seb in London]

I am surprised that they put Bangladesh ahead of South Africa or Thailand as potential important players by 2050.

I am aware that Bangladesh is more populated than the two aforementioned countries; but it also has a much lower GDP per capita and lots of problems to face: the first that comes to mind is obviously the environmental one.

[hello]

Most people in the world is unaware of the fact that Bangladesh has got a very large number of highly educated manpower. You will see Bangladeshis working in very good positions in every hightech industrieds in the developed world. Strong hightech manpower is going to be the driving force of the future development of Bangladesh.

[enrico de benedetti]

any news about specific product N11 form GS?

[samera sharmin]

Is there any contract or economical activities between goldman sachs and bangla trac(bangladesh)

[Bongo]

Your future and that of your country and your family too....

http://www.newsoffuture.com/population/

[Kenjo]

World Economy Country Region level estimates for the next 100 years.

http://www.topix.com/forum/topstories/TUE5Q01LBHILAC8LJ

[Rana]

Hi,
People's are just used to hear bad news from developing countries like Bangladesh. A positive prediction(nothing real yet)but sceptics are started to open their eye brows and saying wow, this country also can be in N-11 then which one can be excluded? But if they look to many social indicators and even economic performances for last 15 years, it did better than in INdia in social sector and respectanle economic growth for last 15 years. Just see the data ^plz. No need to have contract for GS in Bangladesh.GS is busy with their many contracts in different part of the globe.
Rana,Quebec city

[yet28]

how abut malaysia , chile and thailand, vietnam, no doubt, im surprised with bangladesh as well. but hey , they did some research here , maybe it will and it can be a powerful nation in 2050.