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Ever since 2009, the UK's Centre for Economics and Business Research (Cebr) has published an annual report that predicts the strongest economies in the world. The 2024 edition of Cebr’s World Economic League Table (WELT) does exactly that, focusing particularly on the year 2038. The WELT lists the countries with the highest projected gross domestic product (GDP), calculated via the average annual economic growth.

In this gallery, you'll get to know which economies will likely dominate the world in 2038. Click on to know all about it.

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Ireland's economy is expected to grow 2.9% every year until 2028, with experts claiming it will reach an estimated GDP of US$1.173 trillion. The Emerald Isle's population is expected to grow by a minimum of one million by the end of the 2030s.

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Egypt has a projected GDP of US$1.198 trillion. While the country has its problems, including high inflation and high unemployment rates, it's predicted to become a leading nation in terms of green energy production.

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Israel's conflicts have made a great impact on its economy, which is visible in terms of growth predictions. Nonetheless, Israel's GDP is projected to reach around US$1.229 trillion by 2038.

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While the Southeast Asian nation is known as a tourist hotspot, its economy also relies on exports. Thailand's GDP is expected to hit the US$1.313 trillion mark by 2038.

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The UAE aims to double its GDP by 2031. The Arab nation will do that by boosting tourism and exports (other than oil). In 2038, the UAE are expected to have a GDP of US$1.351 trillion.

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Taiwan is yet another nation with a projected trillion-dollar economy. As one of the world's leading semiconductor manufacturers, Taiwan may reach a GDP of US$1.497 trillion by 2038.

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This European nation is expected to have an average annual growth of 1.6% in the next five years. As for 2038, the projections point to a GDP of US$1.529 trillion.

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The Philippines is yet another Asian powerhouse economy. The economy is set to grow by around 6.2% a year until 2028. By then, the GDP should be around US$1.536 trillion.

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Despite high inflation rates, Poland is expected to see a growth above 3% between 2025 and 2031. This European nation will be one to watch in 2038, in which projections suggest it can reach a GDP of US$1.554 trillion.

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Vietnam is already one of the top economies when it comes to manufacturing. This will likely increase as some Western companies move out of China. Projections point to a GDP of US$1.559 trillion.

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Bangladesh's economy is expected to hit the trillion-dollar mark by 2033. By 2038, its GDP is predicted to reach US$1.720 trillion.

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With an economic growth ranging between 1.3% and 1.6% per year, the Netherlands is set to be another strong European economy in 2038. The projected GDP is US$1.876 trillion.

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Saudi Arabia's economy had already become a trillion-dollar economy in 2022. Like the UAE, the Arab nation is trying to diversify its economy beyond oil. By 2038, Saudi Arabia is expected to have a GDP of US$2.215 trillion.

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The nation has been struggling with high unemployment and inflation rates for years, but predictions are optimistic, with an average growth of 3.5% between 2 024 and 2028. Turkey is expected to have a GDP of US$2.219 trillion by 2038.

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The country has a rather moderate growth forecast, ranging between 1.6% until 2028 and 1.5% over the following decade. The steady growth indicates that Spain will reach a GDP of around US$2.549 trillion by 2038.

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In 2022, Mexico overtook Spain to become the greatest Spanish-speaking economy in the world. The nation is expected to have a GDP of US$2.783 trillion by 2038.

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The conflict with Ukraine has affected Russia's economy. Still, the forecast continues to indicate growth, with a projected GDP of US$3.142 trillion by 2038.

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Australia's annual growth is expected to be around 1.9% until 2028, and then increase to 2.2% annually until it reaches a GDP of US$3.153 trillion in 2038.

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Despite government debt and high rates of youth unemployment, Italy's economy is expected to be one of the strongest in the world by 2038. The projected GDP is US$3.236 trillion.

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Indonesia is one of the projected economic powerhouses of 2038, with an estimated GDP of US$3.669 trillion. The International Monetary Fund (IMF) predicts that Indonesia will become the world's sixth-largest economy in 2027.

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The country's economy relies on fossil fuels. Despite the likely decrease in demand for such fuels, Canada's projected GDP for 2038 is US$3.679 trillion.

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South Korea returns to the top 10 of the league for the first time since 2018. With a predicted annual growth of around 2%, the nation is set to achieve a GDP of US$3.682 trillion by 2038.

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The South American nation has less unemployment, pays better salaries, and has more exports than ever. By 2038, it will be one of the strongest economies in the world, with a GDP of US$4.131 trillion.

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France is one of the world's strongest economies. The nation aims to become Europe's first major decarbonized economy by 2050. As for its projected GDP in 2038, it's projected to be US$4.813 trillion.

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The UK's economy remains one of the strongest in the world. With an annual growth between 1.6% and 1.8% until 2038, the British GDP is expected to reach US$5.771 trillion.

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Germany is yet another European powerhouse. The country leads in the continent when it comes to manufacturing. Its GDP is set to reach US$7.434 trillion by 2038.

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The country's economy faced a few years of stagnation, but has since regained its status as one of the most powerful economies in the world. Japan's estimated GDP for 2038 is US$8.894 trillion.

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As one of the greatest emerging markets of all time, India's economy is expected to grow 6.8% in 2025 alone. By 2038, the country's GDP is projected to reach US$12.881 trillion.

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The US remains on top of the game when it comes to economic prowess. According to the economic forecast, America's GDP is expected to be somewhere around US$47.827 trillion by 2038.

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According to the 2024 edition of the World Economic League Table, China will be the leading economy in 2038. The projected GDP for the Asian giant is US$48.811 trillion.

Sources: (Centre for Economics and Business Research) (Love Money)