The next two decades will see a significant economic power shift from BRICS to Mexico, Argentina, Poland, Egypt, South Africa, Turkey, Indonesia, the Philippines, and Vietnam. Companies will now look at new economies beyond BRICS for new outsourcing hotspots for their business operations.
Emerging economies like the Philippines, Nigeria, and Egypt grow at roughly twice the rate of advanced economies by 2030
China is expected to surpass the US’s economy by 2030
By 2030 BRICS will contribute 31.3% of global output up from 25.9% in 2018
Africa is expected to boast more than 6 fastest growing economies of the world by 2030