Where will Australia’s future growth come from?
AUSTRALIA'S GDP is forecast to double to almost $3.5 trillion in the next 15 years, according to a report from the Centre for Economics and Business Research (CERB)
China and India are expected to race up to the top 3 spots (with the United States in second place) as the world largest economies in the near future says the report. The current top western economies are also expected to give way to the rising economies of South America and East Asia.
This tremendous growth is expected to fuel demand for Australian exports. Analysts accordingly expect that such a massive demand will necessarily require a larger Australian population which must either be fuelled by higher fertility rates or immigration.
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