Britain is on track to overtake Germany and become Europe's economic powerhouse in 2030, an analysis of the world's top 30 economies showed Friday. According to new survey data from the Centre for Economics and Business Research (CEBR), a "declining population and the likely weakness of the euro" are expected to impede Germany's current economic performance.
The London-based organisation also cited growth in Britain as a factor. The country had overtaken France to become the world's fifth largest economy in 2014, though the gap between the two countries' GDP figures was within the survey's margin of error.
Growth in India appears to be "unstoppable," CEBR said, estimating the South Asian country would become the world's third largest economy by 2024.
The report added that China's economic output was slated to surpass that of the United States one year later, in 2025.
By 2030, South Korea is slated to make a big jump up from its current position at number 15 to number eight, just behind CEBR's forecasted position for Germany.
In summarising the forecast, CEBR chief Douglas McWilliams pointed to "slow-growing European economies falling back and Asian economies, even though their growth is slowing, catching up."
"The only European economy that rises consistently in this league table is Sweden," McWilliams said in a statement. "There may be lessons here for other European economies."