Global economic growth remains relatively modest in 2026, but several emerging economies are expanding much faster than the world average. Euromonitor International’s 2026 forecast identifies India, Vietnam, Egypt, the Philippines and Indonesia as the five major economies expected to record the highest real GDP growth this year.
India
India is projected by Euromonitor to grow by 6.9% in 2026, the fastest rate among the 62 major economies in its model. Domestic consumption, public investment and structural reforms are supporting activity. The World Bank’s April 2026 update separately projected 6.6% growth for India’s FY2027, showing why forecasts can vary depending on the period and methodology.
India’s scale, expanding services sector and manufacturing investment are central to its longer-term growth outlook. The country is also one of the world’s major producers of renewable electricity.
Vietnam
Vietnam is projected to grow by 6.3% in Euromonitor’s forecast. Manufacturing, exports and investment remain important drivers as companies diversify supply chains across Asia. The IMF’s July 2026 outlook was more optimistic, projecting 7.5% growth, illustrating the uncertainty around economic forecasts.
Egypt
Egypt’s real GDP growth is projected at 5.6%, up from 4.4% in 2025 in Euromonitor’s model. The recovery is linked to economic reforms, foreign investment and activity around infrastructure, manufacturing and the Suez Canal. Risks include regional instability, foreign-exchange pressures and possible disruptions to tourism and shipping.
The Philippines
The Philippines is expected to grow by 5.4% in 2026. Consumer spending remains a major driver, while lower interest rates and moderating inflation could support household demand and private investment. Trade conditions and climate-related risks remain important uncertainties.
Indonesia
Indonesia is projected to expand by 5.0% in Euromonitor’s forecast. Domestic consumption, investment and government spending are supporting growth. The World Bank also projects 5.0% growth in 2026, while highlighting productivity reforms, trade facilitation and job creation as important to sustaining momentum.
The Growing Weight of These Economies
These countries are becoming increasingly important to the global economy, but their growth stories are not the same. India is being driven heavily by domestic demand and investment, while Vietnam’s expansion is closely tied to manufacturing and exports. Egypt’s recovery is linked to reforms and investment, the Philippines relies strongly on household spending, and Indonesia has a large domestic market alongside growing investment.
Their importance also comes from their position in global trade and supply chains. Faster growth means more demand for goods, energy, infrastructure and services, while expanding manufacturing capacity can shift where companies produce and source products.
That does not make the current forecasts certain. Trade barriers, energy prices, geopolitical tensions, inflation and financial conditions can all change the outlook. For now, however, the numbers point to emerging economies playing a larger role in global growth during the years ahead.
Sources: Euromonitor International, World Bank, and IMF World Economic Outlook.
