Japan's per capita GDP ends 2024 with a blowout against the "Four Little Dragons," preparing to welcome an even darker 2025
In 2024, Japan's per capita nominal GDP will fall below that of Taiwan Province, ending its competition with the Four Asian Tigers. In 2023, Japan's per capita GDP was USD 33,834.39, far lower than Singapore and Hong Kong. The Japan Economic Research Center predicts that Japan will not be able to surpass these regions in the next decade. This phenomenon is related to the halving of Tokyo Electric Power's stock price in 2024
At the end of 2024, estimates released by the Japan Economic Research Center indicate that Japan's per capita nominal GDP will fall below that of Taiwan Province, marking the point at which Japan's per capita GDP has already been surpassed by all countries and regions of the previous Four Asian Tigers:
In 2023, Japan's per capita GDP was only $33,834.39, while Singapore was $84,734.26 and Hong Kong was $50,696.59 in the same year. In 2022, Japan was surpassed by South Korea (South Korea made retrospective revisions to its GDP in 2024, increasing its new nominal GDP by about 5% in historical data, thus also surpassing Japan in 2024), and now it has been "defeated" by Taiwan Province.
More importantly, the Japan Economic Research Center believes this is not a temporary phenomenon, and for the foreseeable next 10 years, Japan will not be able to surpass the previous Four Asian Tigers again.
Image: Forecast by the Japan Economic Research Center for the next decade
What has happened to Japan?
All of this must start with the stock price of Tokyo Electric Power, which halved in 2024.
Image: Japan's largest power supplier, Tokyo Electric Power, saw its stock price halve in 2024
