Developing countries set to account for nearly 60% of world GDP by 2030, according to new estimates

The OECD reports:

The rapid growth of emerging economies has led to a shift in economic power: forecasts based on analysis by late economist Angus Maddison suggest that the aggregate economic weight of developing and emerging economies is about to surpass that of the countries that currently make up the advanced world.

According to Perspectives on Global Development: Shifting Wealth, a new publication from the OECD Development Centre, the economic and financial crisis is accelerating this longer-term structural transformation in the global economy. Longer-term forecasts suggest that today’s developing and emerging countries are likely to account for nearly 60% of world GDP by 2030.

No wonder that multinational corporations are seeking innovations that will enable them to enter into the currently untapped or weakly tapped markets in poor countries.