The Great Powers Index 2024, evaluates the leading 24 countries based on factors such as economic output, military strength, technological innovation, and reserve currency status.
The index provides insights into each nation’s current standing and prospects over the next decade.
Top 10 Strongest Nations in 2024
- Strength Gauge Score: 0.89
- Per Capita Score: 0.79
- Future Real Growth Estimate: 1.4%
- Overview: The United States maintains its position as the world’s foremost power, boasting formidable capital markets, an unrivalled military, and the dollar’s status as the global reserve currency. However, challenges include domestic conflicts and an unfavourable economic/financial position.
- Strength Gauge Score: 0.80
- Per Capita Score: 0.30
- Future Real Growth Estimate: 4.0%
- Overview: China is a strong power on a rapid ascent, with significant strengths in infrastructure, innovation, and education. The nation’s growing military might and substantial economic output are notable, though challenges include rising debt levels.
- Strength Gauge Score: 0.56
- Per Capita Score: 0.43
- Future Real Growth Estimate: 0.2%
- Overview: The Eurozone is a strong power in gradual decline, with robust financial markets and a prominent role in global trade. However, high labour costs and a lack of natural resources present challenges.
- Strength Gauge Score: 0.38
- Per Capita Score: 0.54
- Future Real Growth Estimate: -0.5%
- Overview: Germany’s efficient allocation of labour and capital, along with top-notch health indicators, are significant strengths. However, a shrinking workforce and a relative shortage of natural resources are concerns.
- Strength Gauge Score: 0.33
- Per Capita Score: 0.40
- Future Real Growth Estimate: 1.2%
- Overview: Japan’s high internal order, effective allocation of labour and capital, and reserve currency status are notable strengths. The lack of natural resources and an ageing population are key challenges.
- Strength Gauge Score: 0.32
- Per Capita Score: 0.54
- Future Real Growth Estimate: 1.9%
- Overview: South Korea is a global leader in technology and innovation, with a highly educated workforce. Challenges include a shrinking workforce due to a rapidly ageing population.
- Strength Gauge Score: 0.30
- Per Capita Score: 0.07
- Future Real Growth Estimate: 6.3%
- Overview: India’s resilient economy, cost-competitive labour force, and high self-reliance are strengths. However, challenges include widespread corruption and a significant wealth gap.
- Strength Gauge Score: 0.29
- Per Capita Score: 0.46
- Future Real Growth Estimate: 1.3%
- Overview: The UK’s strong legal framework and high happiness rating are positives. However, an unfavourable economic/financial position and poor infrastructure due to underinvestment are concerns.
- Strength Gauge Score: 0.27
- Per Capita Score: 0.45
- Future Real Growth Estimate: 0.9%
- Overview: France’s social well-being, exceptional healthcare system, and relatively narrow wealth gap are strengths. Challenges include high debt levels and workforce productivity issues.
- Strength Gauge Score: 0.26
- Per Capita Score: 0.28
- Future Real Growth Estimate: 2.9%
- Overview: Russia’s rich natural resources and relatively strong military are strengths. However, internal conflicts, corruption, poor infrastructure, and international sanctions due to geopolitical actions are significant challenges.
The Great Powers Index 2024 offers a comprehensive analysis of the current global power dynamics and provides insights into the future trajectories of these nations.
