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"description": "<iframe src=\"https://ourworldindata.org/grapher/gdp-per-capita-worldbank?tab=chart&country=~OWID_WRL\" loading=\"lazy\" style=\"width: 100%; height: 600px; border: 0px none;\" /> \nGross domestic product (GDP) is [defined by Investopedia](https://www.investopedia.com/terms/g/gdp.asp) as\n\n> the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period.\n\nGDP is useful as a measure of a country's overall economic output. GDP per capita is measured as a country's GDP divided by its population, which is an important measure of economic output per person and can be a useful indicator of general well-being in a country.\n\nGDP per capita is necessary for between-country comparisons due to different population sizes, but an additional adjustment must be made to truly compare between countries due to different exchange rates and currency values. This adjustment is known as purchasing power parity (PPP). The [World Bank describes its PPP adjustment as follows](https://www.worldbank.org/en/programs/icp):\n\n> PPPs are calculated based on the price of a common basket of goods and services in each participating economy and are a measure of what an economy’s local currency can buy in another economy. Market exchange rate-based conversions reflect both price and volume differences in expenditures and are thus inappropriate for volume comparisons. PPP-based conversions of expenditures eliminate the effect of price level differences between economies and reflect only differences in the volume of economies.\n\nUsing GDP per capita adjusted by PPP allows for comparisons between countries (though note that GDP per capita is a measure of the average economic output per person and therefore cannot indicate inequality in well-being). The PPP adjustment currently used in the Our World in Data chart is calculated by the World Bank and converts the different currencies to constant 2017 international dollars. According to Our World in Data\n\n> An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States.",
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"title": "What will world real GDP growth per capita be in the following years? (2025)",
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"title": "What will world real GDP growth per capita be in the following years? (2052)",
"description": "<iframe src=\"https://ourworldindata.org/grapher/gdp-per-capita-worldbank?tab=chart&country=~OWID_WRL\" loading=\"lazy\" style=\"width: 100%; height: 600px; border: 0px none;\"></iframe>\n\nGross domestic product (GDP) is [defined by Investopedia](https://www.investopedia.com/terms/g/gdp.asp) as\n\n>the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period.\n\nGDP is useful as a measure of a country's overall economic output. GDP per capita is measured as a country's GDP divided by its population, which is an important measure of economic output per person and can be a useful indicator of general well-being in a country.\n\nGDP per capita is necessary for between-country comparisons due to different population sizes, but an additional adjustment must be made to truly compare between countries due to different exchange rates and currency values. This adjustment is known as purchasing power parity (PPP). The [World Bank describes its PPP adjustment as follows](https://www.worldbank.org/en/programs/icp):\n\n>PPPs are calculated based on the price of a common basket of goods and services in each participating economy and are a measure of what an economy’s local currency can buy in another economy. Market exchange rate-based conversions reflect both price and volume differences in expenditures and are thus inappropriate for volume comparisons. PPP-based conversions of expenditures eliminate the effect of price level differences between economies and reflect only differences in the volume of economies.\n\nUsing GDP per capita adjusted by PPP allows for comparisons between countries (though note that GDP per capita is a measure of the average economic output per person and therefore cannot indicate inequality in well-being). The PPP adjustment currently used in the Our World in Data chart is calculated by the World Bank and converts the different currencies to constant 2017 international dollars. According to Our World in Data\n\n>An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States.",
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"scheduled_resolve_time": "2053-08-02T04:00:00Z",
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"actual_close_time": "2053-01-01T05:00:00Z",
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"fine_print": "* If humanity establishes off-Earth colonies and Our World in Data adds a \"Total Humanity\" measure (or equivalent) to the chart, that measure will be used instead of the \"World\" measure.\n* The per capita data and number of humans alive will include humans only, where \"humans\" will be defined as members of a species with enough biological similarity to reproduce with typical 2022 humans with medical assistance which could be available in the year 1900.\n* While other questions in the Forecasting OWID tournament are conditional on world GDP remaining greater than $100 billion (2021 USD) and the human population remaining above 5% of its previous peak, this question does **not** require these conditions.",
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