Published on 6 Mar 2024 on Insider Monkey via Yahoo Finance
30 Countries with the Highest GDP in 2023
In this article, we will discuss the 30 countries with the highest GDP in 2023. If you want to skip the detailed analysis, click 5 Countries with the Highest GDP in 2023.
Economic Outlook for 2024
The global economy is experiencing a tough time following the COVID-19 pandemic. Now, the economy is heading toward recovery while facing severe threats including the Russia-Ukraine war, the Middle East crises amid the ongoing bomb shelling on Gaza, and rising climate change risks, among others. In 2023 Asian economies and markets have collectively performed well relative to the rest of the global economies despite inflation headwinds and China’s property market crisis. The property market crisis in China has started to impact the global markets. On February 9, Bloomberg reported that Chinese investors and their creditors are putting their real estate holdings ‘For Sale’ across the globe as they are in dire need of raising cash amid the escalating property crisis in China. The Chinese real estate market is on the verge of offloading into a falling market. In addition, more than $1 trillion has been wiped off of office property values due to massive borrowing cost hikes worldwide, as per Starwood Capital Group Chairman Barry Sternlicht. In 2023, global commercial property deals plunged to the lowest level in a decade, with owners unwilling to sell properties at massive discounts.