Why 2000 $ Per Capita GDP matters

Throughout history, the $2000 per capita mark has stood as a significant turning point. When the per capita income is below this threshold, the populace primarily focuses on meeting fundamental necessities. As incomes climb and surpass the $2000 per capita milestone, a notable shift occurs toward discretionary spending.

Reflecting on notable instances of this transformation:

Australia achieved a per capita GDP of over $2000 in 1964, experiencing remarkable growth over the subsequent decade. Within the span of the following ten years, the growth rates surged, propelling the per capita GDP to threefold, reaching $6500.

South Korea surpassed the $2000 per capita GDP mark in 1983. Over the subsequent 24 years, the nation witnessed exponential growth rates, resulting in a twelvefold increase in per capita GDP, soaring to $24000.

China achieved the $2000 per capita milestone in 2006, and within the subsequent 16 years, the nation's transformative growth became evident. Presently, China's GDP per capita has multiplied sixfold, standing at $12700.

Looking ahead, India is about to embark on a similar trajectory, poised to mirror this remarkable growth over the next two decades.