The Philippines is at 2nd Spot at 10 Emerging Markets identified by global study to lead the global economy in the next decade.
These 10 emerging markets will dominate the global economy in the next decade.
'Most of the top 10 fastest growing emerging market economies are in Asia, in line with expectations that the region is the future of the global economy. India claimed top spot in the rankings compiled by Oxford Economics, followed by the Philippines.
The rankings take into account factors beyond just GDP figures and also look at funding availability and workforce growth.
Figures compiled by the research firm indicate that Asian economies will be the most successful emerging markets by 2028 with only one South American country and no African countries in thhe top 10.
Oxford Economics cites the need for emerging markets to undergo rapid capital accumulation through domestic financing to succeed alongside strong GDP and robust total factor productivity (TFP) growth.
At No. 2, the Philippines, a large island group with huge economic potential. The Philippines is set to have the highest increase in its labour force of any of the top 10 which, alongside its GDP growth of 5.3%, means it will be one of the world’s fastest growing economies sooner rather than later.
read from source: The Business Insider
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