What big surprises will the next 3,000 days bring?
The clock is ticking, 2030 is fast approaching, and a new world will unfold over the next 3,000 days. The most noticeable change will be the emergence of top 10 “consumer market” nations reflecting their national growth.
According to a Brookings study, available on Google, on the 2030 growth patterns of the top 10 “consumer market” nations, Bangladesh is expected to grow by 17 percent to reach below Mexico, Pakistan by 7 percent to trail behind Brazil, and Indonesia to gain 2 percent.
In 2030, the top 10 “consumer markets” will be China, India, the US, Indonesia, Russia, Brazil, Pakistan, Japan, Egypt and Mexico. Notice the absence of many otherwise top economies and the addition of new players.
In order to better understand this timeline of 3,000 days, we should take into consideration the speed with which the change has occurred, as 5,000 days ago China and India were nowhere to be found in any top 10 economic progress charts.
Today, these countries have emerged as new climbers due to their nonstop efforts to uplift people at the grassroots’ level and bolster local buying power in order to drive their respective economies.
This was made possible by adopting meritocratic economic policies to improve the standards of living of their peoples. It is no longer difficult to understand as we have several examples of economic marvels such as Singapore, Dubai and now China.
Success in the economic field can only be achieved by the deployment of the right skill sets and effectively utilizing local talent. Some countries have become used to blaming “unforeseen circumstances,” for their own failures. This approach is no longer effective. If a nation has the will to achieve something, it will find a way but that needs self-correction and out-of-the-box solutions.
Undeniably, small and medium enterprises serve as the engine for a nation’s growth and with technologies available for little or no costs, digitization of SMEs has become the norm. In such a situation, it is imperative to tap the potential of SMEs and promote these enterprises to boost the economy. With young entrepreneurs, uplifting and upskilling existing SMEs is the only logical way forward to achieve economic prosperity.
Nevertheless, the world stops for no one, as it only favors the winners on economic fronts and leave behind those who are averse to taking risks and afraid of change.
Lucky are those nations with a powerful vision and a national development to match that vision; like Saudi Arabia with a unique Vision2030 steadily progressing and unfolding with brilliant execution. Such visions or strategies require a strong leadership, which the Kingdom undoubtedly boasts.
However, a question arises here as to what kind of programs are needed for the nations of the world to utilize the next 3,000 days? The answer is simple: Innovation-centric entrepreneurial citizenry to design and create new products. The rest is easy.
• Naseem Javed is chairman of Expothon Worldwide, a Canadian think tank.