Sweeping change is coming to the World Economic League Table over the next decade. Compiled by the UK's Centre for Economics and Business Research (Cebr), the league table is billed as “the go-to measure of the comparative economic success of different countries” and has some eye-opening predictions for 2031. 

With emerging upstarts tipped to outshine advanced stalwarts, and the current frontrunner set to lose its coveted number one spot, read on to discover the top 25 nations that will be ruling the world in 10 years' time. All dollar values in US dollars, and dollar and pound sterling values at current prices.

Currently at  number 27 in the 2022 league table, Nigeria is projected to move up two spaces by 2031, cementing its position as Africa's biggest economy, having overtaken South Africa in 2016.

A lot of game-changing infrastructure megaprojects are slated for completion by 2030, which are likely to bolster the country's economy. However, issues such as the declining demand for oil and ecosystem damage fuelled by climate change and pollution could end up being major drags on growth.

A veritable economic miracle, Vietnam has fast-become one of the world's manufacturing powerhouses, and its phenomenal exports-driven rise is only expected to continue. Growth is projected at 6.5% a year between now and 2031, creating a trillion-dollar GDP and catapulting the nation 12 spots up the league table from its current position of 36, making it the biggest mover in the current top 25.

Looking even further ahead, Vietnam is well on the way to becoming a high-income country, a feat its government wants to achieve by 2045.

Another of southeast Asia's power economies, Thailand is also set to move up the league table, albeit not quite at Vietnam's breakneck speed. Thailand is due to rise up the ranks by three spots, taking it from 26th place in 2022 to 23rd by 2031. The pandemic has subdued economic activity in the country, which has struggled more than Vietnam with COVID-19.

However, robust growth is set to resume, with Thailand's GDP tipped to exceed a trillion dollars by 2031. The massive shadow economy and over-reliance on exports could be stumbling blocks, however.

Taiwan has risen to become one of the world's richest economies, with a GDP-per-capita greater than Germany's. It will likely stay that way more or less, with high-end manufacturing, particularly in cutting-edge and in-demand electronics such as semiconductors, its forte.

The rate of growth is forecast to slow to 2% a year by 2030, with Taiwan tipped to slip to 27th place on the league table by 2036, although recent government projections are more optimistic. Potential issues centre on the ongoing tensions with China, which could escalate to all-out war.

One of the most dynamic countries in the EU, Poland's economy has been growing steadily for a quarter of a century. This will continue to expand through 2031, with the Eastern European country moving two spots up the rankings from its current position of 23rd place.

That said, the nation has more than its fair share of potential growth impediments, from its over-dependence on coal to government challenges to a declining population.

In 2031, affluent Switzerland is projected to remain the world's 20th biggest economy. Having bounced back from the pandemic, the country's economy is set for decent growth, with GDP hitting $1.21 trillion (£896bn) by 2031.

Key drivers are likely to include an upswing in exports. Thanks to low inflation rates, the government will be able to drive down the value of the franc and make Swiss services and products such as luxury jewellery and pharmaceutical items more affordable.

In contrast to Switzerland, Turkey is grappling with shockingly high rates of inflation, the most punishing for 20 years, which aren't doing its economy any favours and could be a barrier to the nation's financial success in the decade ahead.

Be that as it may, the country is projected to see impressive growth, moving up three positions in the World Economic League Table by 2031. Other studies have even suggested Turkey could rank as highly as fifth by that year.

Saudi Arabia is rising to the challenge of diversifying its economy and reducing the country's overriding reliance on oil with ambitious plans such as Saudi Vision 2030, which describes itself as "a unique and transformative economic and social reform blueprint that is opening Saudi Arabia up to the world". 

The economy will in all likelihood grow accordingly thanks to Saudi Vision 2030, which incorporates a mix of high-end manufacturing, financial services, and tourism, and the country is expected to move up a spot in the rankings by 2031.

The only Western European country in the top 25 projected to move higher up the league table by 2031, the Netherlands is expected to go from being the 18th to the 17th biggest economy, despite slowing growth.

The low-lying country has plenty to contend with in the coming years. This includes rising sea levels, which will necessitate high infrastructure spending on flood barriers, dams, and other measures to protect its long coastline. However, the government is determined to evolve a thriving eco-friendly circular economy by 2050.

Mexico is projected to slip down the rankings by 2031, falling back one spot. The nation has the challenge of diversifying its exports, which are dominated by oil, and adapt to a more sustainably-minded world.

However, it stands to benefit big-time from US companies nearshoring in the country from Asia, a trend that is likely to continue and possibly even intensify in the future.

Also expected to drop a position is Spain, which will fall from being from the 14th to the 15th biggest economy globally.

Cebr expects the country's annual GDP growth rate to decline from 2.6% to 1.5% on average, with the heavily indebted nation's fiscal stability a worry. However, the government is pressing on with its España 2050 development plan, which is aiming to make the country carbon-neutral by 2050, as well as transform education, health, taxes, and other sectors.

Indonesia is expected to revert to strong GDP growth is 2022, and is on target to move two positions higher in the 2031 league table; other analyses even suggest it could be sitting comfortably within the top 10.

The government will have to balance its push to go carbon-free with its wider developmental objectives. It will also need to tackle ecosystem damage, which is likely to have a more marked impact on middle-income rather than richer economies.

Cebr is forecasting a drop of one spot by 2031 for Russia, followed by a jump that will take it to number 10 by 2036. If correct, this will be the first time it has ben in the top 10 since 2011, with a rising exchange rate tipped to be behind the improvement.

Pluses include the Nord Stream 2 gas pipeline and the expansion of China's Belt and Road Initiative, which will benefit the country. However, the pandemic has sapped the Russian economy, prompting the government to postpone its 2024 development goals to 2030. Annual growth is likely to have slowed from 2.4% to 1.6% in this time.

Currently sitting in 13th place, Australia is anticipated to rise one place to 12th by 2031 before falling two spots to 14th in 2036.

However, the size of the country's economy is set to almost double in the coming years, thanks to official plans such as Australia 2030, which seeks to foster innovation in the country. Looking further ahead, the country may have trouble weaning itself off fossil fuels and would probably be wise to reduce its dependency on China.

Like many high-income economies, South Korea is set to see ever-slower growth over the coming decade. Currently in 10th place, it's tipped to be in 11th spot by 2031 and 12th by 2036.

Demand is likely to remain buoyant for the nation's products, notably electronics. Plans are afoot to make South Korea a “semiconductor powerhouse”, which would rev up exports and help the wider economy grow.

One of the worst-performing EU economies, Italy was in the doldrums financially before the pandemic struck. While nothing spectacular is predicted to happen in the coming decade, the country could still see growth of up to 4% courtesy of the bloc's $191.5 billion (£141.5bn) COVID-19 stimulus package.

Though to make this happen, the nation will need to stick to President Draghi's 'Draghinomics', which involve widespread, and potentially unpopular, reforms. Nevertheless, Italy is projected to slide two spots down the rankings by 2031, just about clinging on to a spot in the top 10.

Canada, on the other hand, is predicted to be a non-mover, holding on to its enviable ninth position in 2031. However, it's set to lose it to Indonesia by 2034 and is likely to drop down even further to 11th place by 2036.

While the economy has much in its favour, the country could have a tough ride ahead as it works to eliminate its reliance on fossil fuels, which are crucial economic drivers at present, as well as achieve the government's goal of becoming carbon-neutral by 2050.

Granted, the Brazilian economy isn't on the way to enjoying massive growth, yet it continues to go onwards and upwards. By 2031, it will have gained three spots on its 2022 ranking, and will land itself a very respectable 8th place on the World Economic League Table.

Still, there are more than a few headwinds to cope with, from high inflation to ecosystem damage, and Brazil may find it harder than many to transition away from fossil fuels. Despite this, the country is expected to move three positions higher in the league table by 2031.

France is likely to be a non-mover in 2031, although its GDP will have swelled by more than a trillion dollars as a result of slow-and-steady annual growth.

Important driving forces will include the government's France Relance carbon neutrality plan, as well as the country's flourishing tech and financial sectors.

Currently the world's fifth-biggest economy, the UK will drop to sixth in the league by 2031, with India taking its place.

Growth in the country will come in at 1.8% on average from 2027, compared to 2.4% between 2022 and 2026. Challenges the nation faces include adapting to a post-Brexit world, which presents both economic opportunities and threats, as well as implementing the government's ambitious green agenda.

Germany is also expected to slip a position down the rankings, but is actually forecast to regain the number four spot again between 2031 and 2036, overtaking Japan.

Buoyed on by a potent manufacturing base that is reinforced by constant innovation, growth is projected to be good as the country transitions towards a more sustainable, carbon-free future.

Back in 2006, Japan held the global number two spot before falling back to third. By 2031, it will only be the world's fourth-biggest economy and just the fifth-largest by 2036.

The nation has been declining economically in a relative sense since the 1980s. This disappointing performance, which has characterised the country's so-called 'lost decades', is likely to persist, with annual GDP growth of a mere 0.5% on the cards between 2027 and 2036.

Powering ahead, India is set to overtake China as the world's most populous country as soon as 2027, if not before. The rate of economic growth could go as high as 10% a year over the coming decade, pushing the country three spots up the league table.

The nation will need to contend with ecosystem damage, however, and, like other up-and-coming economies is going to have to balance its developmental objectives with its sustainability aspirations.

Looking at the projected rankings for 2031, the biggest jaw-dropper is America's slip to second spot, especially given that the US economy has been the world's largest since 1890.

Cebr envisages economic growth slowing in the country but predicts it will still average a respectable 2% a year. While China will trump the US in terms of overall GDP, the US will boast a bigger GDP-per-capita for the next 50 years at least, according to the Economist Intelligence Unit.

Predicted to be comfortably ensconced in the top spot by 2031, China is expected to have become a high-income economy.

Annual growth is slowing, yet will continue to outpace the US at 3.8% between 2030 to 2035. Investments in everything from the Belt and Road Initiative to technology including AI and semiconductors will no doubt work wonders. However, China has a wide range of potential problems to navigate, including conflict with the US, its dependency on fossil fuels, and an ageing population.

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