20 Most Powerful Countries Ruling the World in 2050

Published on April 10, 2024 at 4:58 am by Ashar Jawad in Lists, News

In this article, we look at the 20 most powerful countries ruling the world in 2050. You can skip our detailed analysis on the future global power dynamics and head over directly to the 5 Most Powerful Countries Ruling the World in 2050.

A vital lesson learned from Russia’s invasion of Ukraine has been what the world could look like without Washington’s involvement, and what it looks like when America flexes its muscle. Kyiv, if left alone, would have quickly crumbled against Russian advances, with Putin handing out punishments to members of the Ukrainian resistance. Instead, we have seen Ukrainian identity being asserted on the world stage and its president, Zelenskyy, making the front pages of newspapers and magazines across the globe for the heroic fightback.

This has been made possible with heavy financial and military assistance provided by the United States to help Ukraine in repelling Russian aggression. For instance, Lockheed Martin Corporation (NYSE:LMT)’s High Mobility Artillery Rocket Systems (HIMARS) have been instrumental in Ukraine’s defense. According to a report, the US has donated 39 HIMARS to the country since 2022, and these are now the finest weapons in the hands of the Ukrainian military to push back the Russians. On the other hand, RTX Corporation (NYSE:RTX) has received more than $3 billion in orders tied with replenishing Kyiv, which includes an agreement to build 1,300 stinger missiles.

The Americans have also backed military support with political pressure, which is testament to the strength of their global alliance network. 46 countries, a year into the conflict, had placed economic sanctions on Russia, with about 40 of them providing financial, military, and humanitarian support to Ukraine. Moreover, more than 500 companies either pulled out or curtailed their operations in Russia, including tech giants Apple Inc. (NASDAQ:AAPL) and Microsoft Corporation (NASDAQ:MSFT).

The United States continues to be the only superpower in the world, primarily due to its economic and military strength, which has also earned the country sufficient political and cultural clout over much of the world. It is home to some of the largest corporations in the world, with staggering revenues, greater than the size of several entire nations’ GDPs. Microsoft Corporation (NASDAQ:MSFT), for instance, posted $227b in trailing-twelve-month revenue, while Apple Inc. (NASDAQ:AAPL)’s trailing-twelve-month figures were even higher – $385.7b in revenue and a net income of $100b.

The defense sector also remains robust, with most countries across the world looking to procure advanced, sophisticated military equipment from the United States to enhance their defense capabilities. Ongoing conflicts in Europe and the Middle East have led to a further surge in military expenditure, creating a boom in the market. Lockheed Martin Corporation (NYSE:LMT)’s revenue climbed 2.4% compared to 2022 to total $67.6 billion in 2023. RTX Corporation (NYSE:RTX) also generated a whopping $68.9 billion in sales last year.

Both Lockheed Martin Corporation (NYSE:LMT) and RTX Corporation (NYSE:RTX) are among the top defense manufacturers in the country, and are also part of the Next Generation Air Dominance (NGAD) – a highly classified program launched by the United States Air Force in 2014 to develop a sixth-generation fighter jet to replace Lockheed Martin Corporation (NYSE:LMT)’s F-22.

Having said that, despite America’s current strength and initiative like the NGAD program to prepare for the future, global dynamics are rapidly evolving, and by 2050, the situation may become different to how it is today. The 21st century is already being dubbed by analysts as the Asian century. The continent, which made up less than 20% of the world’s GDP in 2000 is projected to account for more than half of the global economy by as early as 2040.

According to PricewaterhouseCoopers, China’s GDP alone in 2050 would be equivalent to 20% of the world’s economy, while India will surpass the United States to become the second largest economy of the world. Already, several large multinational corporations have begun moving their operations to Asian countries to benefit from cheap skilled labor, and to tap into the economic potential offered by these huge markets. 95% of all Apple Inc. (NASDAQ:AAPL) iPhones, iPads, and MacBooks are now made in China, with the country in 2022 contributing about one-fifths of the company’s overall revenue. The tech giant is also making inroads in India and established its first retail outlet in Mumbai last year. Other companies like Microsoft Corporation (NASDAQ:MSFT) and Alphabet Inc. (NASDAQ:GOOG) have also been expanding their presence in Asia with investments.

Asia’s rapid economic growth is also beginning to culminate into increased military spending and political influence, which is likely to have an impact on shaping the future global order. With that being said, let’s head over and take a look at what the world’s power dynamics could look like in 2050.

Methodology

We have considered three weighted metrics to rank the most powerful countries ruling the world in 2050. These are forecasted size of the economy (40%), projected defense expenditure (30%), and current level of technological advancement (30%).

Economic data has been sourced from our article on the 20 Largest Economies in the World by 2050. For projected defense expenditure in 2050, we used Stockholm International Peace Research Institute (SIPRI)’s dataset on countries’ military expenditure since 1990 and did a time-series forecast using that historical data to project their 2050 estimated numbers. Lastly, World Intellectual Property Organization (WIPO)’s Global Innovation Index 2023 was considered to gauge the technological capabilities of countries.

Weighted scores for each metric were aggregated to get an overall score. The 20 most powerful countries ruling the world in 2050 are ranked in ascending order of these scores.

If interested, you can also take a look at the 15 Countries that will have the Most Powerful Militaries by 2030.

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Let’s now head over to the list of the most powerful countries in 2050.

20. Pakistan

Projected GDP (PPP) in 2050: $4.24 trillion

Forecasted Defense Expenditure in 2050: $19.1 billion

Technological Capabilities Rank: 88

Score: 0.449

We begin our list with Pakistan, which is one of the most powerful countries in Asia, despite its ongoing economic and security challenges. It is forecasted to be the sixteenth largest economy in the world in 2050, according to PricewaterhouseCoopers. The country boasts a strong military to ward off the perceived threat of aggression from arch-rival India.

19. Vietnam

Projected GDP (PPP) in 2050: $3.18 trillion

Forecasted Defense Expenditure in 2050: $10.11 billion

Technological Capabilities Rank: 46

Score: 0.454

Vietnam’s economy is forecasted to grow at an average of 5.2% per annum between 2016 and 2050, the third fastest growth rate in the world during this period. The country is a major manufacturing hub in Southeast Asia and has leveraged that to strengthen its military as well. Defense spending in Vietnam has grown 700% over the last decade, and is projected to cross the $10 billion mark by 2050.

18. Spain

Projected GDP (PPP) in 2050: $2.73 trillion

Forecasted Defense Expenditure in 2050: $28.43 billion

Technological Capabilities Rank: 29

Score: 0.492

Spain is one of the most technologically advanced countries in the world. It is likely to be the 26th largest economy in the world in terms of purchasing power parity by 2050. The country spent $20.3 billion on defense in 2022, and boasts a powerful military with over 130,000 active personnel, several hundreds of battle tanks and military aircraft. Spain is forecasted to be among the most powerful countries in the world in 2050.

17. Australia

Projected GDP (PPP) in 2050: $2.57 trillion

Forecasted Defense Expenditure in 2050: $56.33 billion

Technological Capabilities Rank: 24

Score: 0.533

Australia is a member of the G20, and the Quadrilateral Security Dialogue involving the United States, India, and Japan as the other three member states, which provides the country sufficient political leverage. Moreover, the Australian Dollar is among the most traded currencies in the world. The country is likely to remain influential in 2050 as well, backed by a strong economy and continuous rise in military spending.

16. Italy

Projected GDP (PPP) in 2050: $3.12 trillion

Forecasted Defense Expenditure in 2050: $45.26 billion

Technological Capabilities Rank: 26

Score: 0.593

Next on our list of the most powerful countries in 2050 is Italy. The European country is projected to have the 21st largest economy in the world by then, and see its defense expenditure rise 35% from $33 billion in 2022. Italy is also among the most technologically advanced countries in the world. The country ranks high on cultural influence as well.

15. Mexico

Projected GDP (PPP) in 2050: $6.87 trillion

Forecasted Defense Expenditure in 2050: $13.24 billion

Technological Capabilities Rank: 58

Score: 0.597

Mexico is forecasted to become the seventh largest economy in the world in 2050, with a projected GDP (PPP) of $6.87 trillion in PPP terms. It boasts the second most powerful military in Latin America, with a sizable number of armored fighting vehicles and military aircraft. The country has a strong influence in North America due to its rich culture and economic potential.

14. Canada

Projected GDP (PPP) in 2050: $3.1 trillion

Forecasted Defense Expenditure in 2050: $39.49 billion

Technological Capabilities Rank: 15

Score: 0.598

Next on our list is Canada, which is projected to be the 22nd largest economy in the world in PPP terms by 2050. It is already one of the most powerful countries in the world, with significant political clout as it is a member state of the G20 and NATO, as well as a close neighbor and strategic ally of the United States. The country also ranks high when it comes to technological advancement.

13. Indonesia

Projected GDP (PPP) in 2050: $10.5 trillion

Forecasted Defense Expenditure in 2050: $16.09 billion

Technological Capabilities Rank: 61

Score: 0.634

Indonesia is poised to be one of the most powerful countries in the world in 2050. According to PwC, the country will be the fourth largest economy in the world in 2050, with a GDP (PPP) of over $10 trillion. It is already the biggest economy in Southeast Asia. Moreover, Indonesia is the most populous Muslim-majority country in the world, which grants it sufficient influence over the Muslim world.

12. Turkiye

Projected GDP (PPP) in 2050: $5.18 trillion

Forecasted Defense Expenditure in 2050: $32.06 billion

Technological Capabilities Rank: 39

Score: 0.655

Next on our list of the most powerful countries ruling the world in 2050 is Turkiye, which is already a major global force, due to its cultural influence, economic potential, and military strength. Despite ongoing economic challenges, the country is likely to become the eleventh largest in the world in terms of GDP (PPP). Turkiye spent $10.6 billion on defense in 2022, and that is forecasted to grow to over $32 billion by 2050. Ankara has two military satellites in orbit and operates overseas military bases in Qatar, Somalia, and Northern Cyprus.

11. Saudi Arabia

Projected GDP (PPP) in 2050: $4.7 trillion

Forecasted Defense Expenditure in 2050: $139.79 billion

Technological Capabilities Rank: 48

Score: 0.726

Saudi Arabia is the fifth largest military spender in the world, having incurred over $75 billion on defense in 2022. The kingdom is the world’s largest exporter of oil, and is projected to further increase military spending over the coming decades. Saudi Arabia is home of Islam’s holiest sites, which grants it incredible influence over the Muslim world. The country is a key strategic ally of the United States in the Middle East.

10. South Korea

Projected GDP (PPP) in 2050: $3.54 trillion

Forecasted Defense Expenditure in 2050: $80.58 billion

Technological Capabilities Rank: 10

Score: 0.727

South Korea is one of the most powerful countries in Asia and the world, and is projected to remain among the top ten strongest countries in 2050. According to the PwC, the country’s economy is forecasted to be the 18th largest in the world in 2050, with an estimated size in excess of $3.5 trillion. The country also ranks high on technological capabilities, as well as cultural influence with Korean pop music, fashion, and cuisine making waves across the globe.

9. Brazil

Projected GDP (PPP) in 2050: $7.54 trillion

Forecasted Defense Expenditure in 2050: $50.24 billion

Technological Capabilities Rank: 49

Score: 0.738

Brazil will have the fifth largest economy in the world in 2050, with an estimated size of $7.54 trillion. The country boasts a strong military with more than 520 military aircraft, and leverages its economic strength to raise a strong armed forces. Brazil spent over $20 billion on defense in 2022, and the figure is projected to surpass the $50 billion mark in 2050.

8. France

Projected GDP (PPP) in 2050: $4.7 trillion

Forecasted Defense Expenditure in 2050: $75.88 billion

Technological Capabilities Rank: 11

Score: 0.786

France’s economic growth will continue to remain stable, but it will not be growing at the pace some other emerging markets will be growing at. As a result, it is projected to drop out of the list of the ten largest economies in the world by 2050. Despite that it is expected to be among the most powerful countries in the world in 2050 with a GDP in PPP terms of close to the $5 trillion mark, and over $75 billion being spent on defense. France currently ranks as the eleventh most technologically advanced country in the world.

7. Russia

Projected GDP (PPP) in 2050: $7.13 trillion

Forecasted Defense Expenditure in 2050: $165.14 billion

Technological Capabilities Rank: 51

Score: 0.810

Russia is considered to be among the top three most powerful countries in the world. However, despite a stable economy and heavy military spending, it is likely to lag behind in the rankings as it lacks in technological advancement compared to its competitors and is subject to numerous economic sanctions. Russia’s ongoing struggles in Ukraine have been a grim illustration of the limits of its power. Moreover, much of the country’s military equipment is now old and outdated, requiring immediate upgrades.

6. Japan

Projected GDP (PPP) in 2050: $6.78 trillion

Forecasted Defense Expenditure in 2050: $64.21 billion

Technological Capabilities Rank: 13

Score: 0.811

Japan is on sixth spot in our list of the most powerful countries ruling the world in 2050. The country will continue to remain an important player in the world due to its economic, military, political, and cultural strength. Its GDP in PPP terms is projected to be $6.78 trillion in 2050, with a forecasted defense spending of over $64 billion. It is the 13th most technologically advanced nation in the world.

Click to continue reading and see the 5 Most Powerful Countries Ruling the World in 2050.

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