What do Iraq, Sri Lanka and Mongolia Have in Common?

Econintersect:  An article at Advisor One reports on the top ten countries for growth over the next several decades years.  And yes, the three in the headline are on that list.  The article draws on data from a Knight Frank and Citi Private Bank report.  Number 1 on the list is Nigeria with an estimate of 8.5% per year average from 2012 to 2022.  The largest country on the list is India (second ranked at 8.0% growth).  The rest of the BRICS (China, Russia, Brazil and South Africa) are not in the top ten.

The next ten years will be the Asia decade as eight of the ten countries are in Asia .  The other two are in Africa.  Number ten on the list is Egypt, with an estimated 6.4% average annual growth rate.  The entire list can be reviewed in a slide show at Advisor One.

Here are the top ten and the bottom ten growth countires projected for 2010-2050:

With the top fastest growing countries all in Asia and Africa, it is interesting that capital growth objectives in those two regions rank lower for high net worth investors than in Europe and North America.

Econintersect found it interesting that in 2011 the changes in investment allocations globally were so strongly away from equities.  Portfolios of the wealthy are very little allocated to currency and commodities, including gold.

Finally, it was interesting that the same report ranked the 20 most important cities in the world, now and projected in 10 years.  Europe has a large number of cities appearing compared to Asia currently and almost as many in 10 years in spite of the more rapid growth projected for the eastern sections of Eurasia.

Note that three cities appear on the fastest growing in importance list that do not appear on either of the other lists:  Rio de Janeiro, Istanbul and Sydney.

John Lounsbury

Sources:

• Top Ten Countries for Economic Growth (Ron Pechtimaldijian, Advisor One, 19 April 2012)

• The Wealth Report 2012 (Knight Frank, March 2012)

• The Wealth Report 2012 (Knight Frank and Citi Private Bank)