Global Population Growth, SMEs and the Factoring Industry

As can be seen on Chart 1 from their research below, the rate of growth in world population has slowed down a great deal since peaking back in the mid-1960s. More importantly, current trends point to an even slower percentage growth rate in global population between now and 2050. United Nation’s data noted in their research reveals that that even as India is projected to surpass China in 2023 to become the most populous country in the world, its average annual rate of population growth is projected at 0.7% during 2020-–40, below the global average of 0.8% and just half its 2000–20 rate.?

One other interesting fact pointed out in their research is that the number of countries experiencing annual population decline is expected to more than double between now and 2050; from a current number of 41 in 2022 to 88 in 2050. Please refer to Chart 1 for data on the “fizzling global population boom” projected to occur between now and 2050.?

Source: United Nations Department of Economic and Social Affairs, Population Division, World Population Prospects, Revision.