According to a report by HSBC Global Research, South American countries such as Peru, Ecuador, and Bolivia will be those who integrate the group of the 26 economies that might have rapid economic growth (above 5% average) through 2050.
The three Latin American states would be like China, India, Philippines, Egypt, and Uzbekistan, which now “share a very low level of development, but have made great progress.”
According to the data, Peru would climb 20 points in the global economic ranking, positioning the cursor in the number 26, with a Gross Domestic Product (GDP) of $ 735,000 million in 2050. While Ecuador jump 14 points to stand at the position 62 to increase its GDP of $ 24,000 million in 2010 to $ 206,000 million in 2050, which would also imply an increase in per capita income of $ 1,771 to $ 10,546. Bolivia would move 25 points up to the position 71 and its GDP would be $ 145,000 million in 2050.
Karen Ward, senior global economist at HSBC, who led the study, said the forecasts were based on indicators such as income per capita, rule of law, respect for democracy, education levels, and population changes. But he warned that there are factors that can cause the switch to long-term savings as inflationary pressures and the use of credit.