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Income of Indians will double faster than...

Last updated on: December 12, 2011 19:18 IST

Income of Indians will double faster than...

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Until recently, average incomes in advanced countries were increasing at much faster rates than in the rest of the world.

But now the cycle has turned.

Average incomes of those working in the developing countries are projected to increase at a much faster rate than in the developed world, according to a study conducted by Angus Maddison, University of Groningen, McKinsey, IMF and The Economist.

Let's see in how many years the GDP will double in selected countries, including India.

NOTE: GDP is at purchasing-power parity

Forecast is based on average growth, 2011-2016

Click NEXT to see how many years it will take in India...


Image: Income in developing countries are growing faster.
Photographs: Reuters

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India

GDP will double in how many years: 9

GDP per person (2011): $3,700

Population (2011): 1.2 billion

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Image: Eleven-year-old tigress Gayetri carries her two-month-old cub in her mouth at the Alipore Zoo in Kolkata.
Photographs: Reuters
Tags: GDP

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China

GDP will double in how many years: 7

GDP per person (2011): $8,400

Population (2011): 1.3 billion

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Image: Students wash their classmate's hair in China Fukang Beauty and Hair School in Shanghai.
Photographs: Reuters
Tags: GDP , China

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South Korea

GDP will double in how many years: 14

GDP per person (2011): $31,800

Population (2011): 49 million

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Image: A woman reads a book beside a bronze statue in front of Sejong Centre for the Performing Arts in Seoul.
Photographs: Reuters

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Japan

GDP will double in how many years: 23

GDP per person (2011): $34,400

Population (2011): 128 million

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Image: Japanese soldiers work on a snow sculpture celebrating the 25th anniversary of the Tokyo Disney Resort at the snow festival in Sapporo, Japan.
Photographs: Reuters
Tags: GDP , Japan

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The United States

GDP will double in how many years: 24

GDP per person (2011): $48,100

Population (2011): 313 million

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Image: A view of downtown Los Angeles.
Photographs: Reuters

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The United Kingdom

GDP will double in how many years: 25

GDP per person (2011): $36,000

Population (2011): 63 million

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Image: Youths skateboard through a shopping arcade at Covent Garden in London.
Photographs: Reuters

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Germany

GDP will double in how many years: 27

GDP per person (2011): $37,900

Population (2011): 81 million


Image: People ride a merry-go-round in a Christmas market, in front of the television tower in Berlin.
Photographs: Reuters
Tags: GDP , Indians , Germany

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