In a recent publication called the
2012 Wealth Report, Knight Frank Research and Citi Private Bank made the bold prediction that by the year 2050, the wealthiest four economies measured by GDP per capita would be in Asia. Singapore, Hong Kong, Taiwan and South Korea will stand atop the world, with the United States ringing in 5th.
By 2050 Hong Kong’s GDP per capita is projected to be USD116,639, a whopping 157 percent increase over the 2010 figure of USD45,301. Before we start salivating over our predicted future wealth, however, we must first consider the many challenges of realizing this level of economic growth in a sustainable way.