2026-02-25 · NextMigrate Team
Which Economies Are Actually Growing in 2025? A Snapshot for Career Planning
Economic growth sounds abstract until you realize it determines whether you get a raise next year, whether your industry is hiring or laying off, and whether the money you save today will be worth more or less in five years. For professionals making career decisions — especially decisions about where to build their careers — understanding which economies are actually growing, and how that growth translates into real wages and job opportunities, is not optional. It is essential.
This is not a macroeconomics lecture. This is a practical breakdown of which countries are expanding, which are stagnating, and what that means for someone in Lagos, Mumbai, Manila, Cairo, or Karachi who is weighing where to invest the next decade of their professional life.
The GDP Snapshot: Where Growth Is Happening
Let's start with the headline numbers. GDP growth tells you whether the overall economic pie is expanding or shrinking. It does not tell you everything — a growing economy with terrible inequality can still feel stagnant for most people — but it is the foundation.
Real GDP Growth Rates by Country (2024–2026)
| Country | GDP Growth 2024 | GDP Growth 2025 (Est.) | GDP Growth 2026 (Proj.) | 3-Year Trend | GDP Per Capita (2025, USD) |
|---|---|---|---|---|---|
| India | 6.8% | 6.5% | 6.7% | Strong, consistent | $2,850 |
| UAE | 4.2% | 4.8% | 5.1% | Accelerating | $49,200 |
| Philippines | 5.6% | 5.8% | 6.0% | Strong, accelerating | $4,120 |
| Saudi Arabia | 3.8% | 4.5% | 4.8% | Accelerating | $32,800 |
| Australia | 2.1% | 2.4% | 2.6% | Moderate, improving | $65,400 |
| Canada | 1.5% | 2.1% | 2.4% | Moderate, improving | $54,800 |
| New Zealand | 1.2% | 1.8% | 2.2% | Recovering | $48,200 |
| United States | 2.8% | 2.3% | 2.1% | Strong but moderating | $82,400 |
| United Kingdom | 0.9% | 1.5% | 1.8% | Slow recovery | $48,900 |
| Germany | 0.3% | 0.8% | 1.4% | Weak, recovering slowly | $54,100 |
| Nigeria | 3.2% | 3.5% | 3.8% | Moderate | $1,620 |
| Pakistan | 2.4% | 3.0% | 3.2% | Recovering from crisis | $1,580 |
| Egypt | 3.8% | 4.2% | 4.5% | Moderate recovery | $4,280 |
India and the Philippines show impressive headline growth rates — 6.5% and 5.8% respectively. But notice the GDP per capita column. India's economy is growing fast off a base of $2,850 per person. Canada's is growing at 2.1% off a base of $54,800 per person. That 2.1% growth in Canada adds $1,151 per person per year. India's 6.5% growth adds $185 per person per year.
This is the critical distinction between economic growth rates and economic reality. A 6.5% growth rate in a $2,850-per-capita economy creates a very different lived experience than a 2.1% growth rate in a $54,800-per-capita economy.
The Metric That Matters Most: Wage Growth vs. Inflation
GDP growth means nothing to your career if your wages do not keep up with prices. Real wage growth — the increase in wages after adjusting for inflation — is the single best indicator of whether ordinary professionals are actually getting ahead.
Real Wage Growth by Country (2024–2025)
| Country | Nominal Wage Growth | Inflation Rate | Real Wage Growth | Purchasing Power Trend |
|---|---|---|---|---|
| Australia | 4.2% | 2.8% | +1.4% | Improving |
| Canada | 4.5% | 2.6% | +1.9% | Improving |
| UAE | 5.1% | 2.1% | +3.0% | Strongly improving |
| Germany | 3.8% | 2.4% | +1.4% | Recovering |
| United Kingdom | 4.8% | 3.2% | +1.6% | Improving |
| New Zealand | 3.6% | 2.5% | +1.1% | Improving |
| United States | 4.1% | 2.9% | +1.2% | Stable |
| India | 8.5% | 5.2% | +3.3% | Improving |
| Nigeria | 12.0% | 28.5% | -16.5% | Collapsing |
| Pakistan | 10.0% | 18.2% | -8.2% | Declining sharply |
| Egypt | 15.0% | 25.8% | -10.8% | Declining sharply |
| Philippines | 5.8% | 4.1% | +1.7% | Improving |
This table is the most important in this article. Read the Nigeria row carefully: nominal wages grew 12%, which sounds excellent. But inflation was 28.5%. That means a Nigerian professional who received a 12% raise actually lost 16.5% of their purchasing power in a single year. They are earning more naira but can afford significantly less.
This has been the pattern for three consecutive years. The cumulative impact is devastating:
Cumulative Purchasing Power Change (2022–2025)
| Country | Cumulative Real Wage Change (3 Years) | What $1,000 in 2022 Purchases Is Worth in 2025 |
|---|---|---|
| Nigeria | -42.8% | $572 |
| Egypt | -35.2% | $648 |
| Pakistan | -28.6% | $714 |
| India | +4.2% | $1,042 |
| Philippines | +3.1% | $1,031 |
| Canada | +5.8% | $1,058 |
| Australia | +4.1% | $1,041 |
| UAE | +8.2% | $1,082 |
| United Kingdom | +2.4% | $1,024 |
| Germany | +1.8% | $1,018 |
A Nigerian professional's purchasing power has declined by 42.8% in three years. That is not a recession — that is a collapse. What $1,000 bought in 2022 now costs $1,750 in naira terms. Meanwhile, a professional in Canada has seen a 5.8% real increase. The professional in the UAE has seen an 8.2% increase.
This divergence means that every year a skilled Nigerian professional stays in Nigeria earning naira, the gap between their real compensation and what they would earn abroad widens — not by a small amount, but by double-digit percentages annually.
Job Creation: Where Positions Are Being Added
Economic growth matters most when it translates into actual employment. Job creation rates reveal whether growth is broad-based or concentrated.
Net New Jobs Created by Sector (2025, Major Economies)
| Sector | Canada | Australia | UK | Germany | UAE | Nigeria | India | Philippines |
|---|---|---|---|---|---|---|---|---|
| Technology | +112,000 | +68,000 | +95,000 | +72,000 | +32,000 | +18,000 | +380,000 | +42,000 |
| Healthcare | +88,000 | +54,000 | +72,000 | +48,000 | +21,000 | +12,000 | +210,000 | +35,000 |
| Construction | +65,000 | +48,000 | +42,000 | +35,000 | +45,000 | +22,000 | +290,000 | +28,000 |
| Financial Services | +38,000 | +22,000 | +45,000 | +28,000 | +18,000 | +8,000 | +120,000 | +15,000 |
| Manufacturing | +22,000 | +15,000 | +12,000 | +18,000 | +12,000 | +15,000 | +350,000 | +22,000 |
| Energy/Renewables | +35,000 | +28,000 | +32,000 | +42,000 | +15,000 | +5,000 | +95,000 | +8,000 |
| Total | +360,000 | +235,000 | +298,000 | +243,000 | +143,000 | +80,000 | +1,445,000 | +150,000 |
India creates 1.4 million jobs but has 12 million new workforce entrants annually. Nigeria creates 80,000 new positions against 3.2 million new workforce entrants. Canada creates 360,000 positions and has approximately 380,000 new domestic workforce entrants plus immigration targets of 500,000 — meaning it is deliberately importing workers to fill positions that cannot be filled domestically.
Job Creation Per Workforce Entrant
| Country | New Jobs (2025) | New Workforce Entrants | Jobs per Entrant | Interpretation |
|---|---|---|---|---|
| UAE | 143,000 | 45,000 | 3.18 | Severe labor shortage |
| Canada | 360,000 | 380,000* | 0.95 | Near-full employment, needs immigration |
| Australia | 235,000 | 265,000* | 0.89 | Near-full employment, needs immigration |
| United Kingdom | 298,000 | 320,000 | 0.93 | Near-full employment |
| Germany | 243,000 | 280,000 | 0.87 | Slight surplus, aging workforce offsets |
| Philippines | 150,000 | 1,800,000 | 0.08 | Massive surplus |
| India | 1,445,000 | 12,000,000 | 0.12 | Massive surplus |
| Nigeria | 80,000 | 3,200,000 | 0.025 | Extreme surplus |
| Pakistan | 55,000 | 2,800,000 | 0.020 | Extreme surplus |
| Egypt | 72,000 | 2,100,000 | 0.034 | Extreme surplus |
*Including immigration intake targets.
The "Jobs per Entrant" column is the clearest picture of labor market opportunity. In the UAE, there are 3.18 jobs for every new worker — employers are fighting over talent. In Canada, it is 0.95 — essentially full employment. In Nigeria, it is 0.025 — one job for every 40 new workers. In Pakistan, it is 0.020 — one job for every 50 new workers.
Currency Stability: The Hidden Factor in Career Planning
Your salary is denominated in a currency. If that currency is losing value, your real compensation is declining even if your nominal pay is increasing.
Currency Performance Against USD (2022–2025)
| Currency | Rate vs. USD (Jan 2022) | Rate vs. USD (Feb 2025) | Depreciation | Annualized Loss |
|---|---|---|---|---|
| Nigerian Naira (NGN) | 415 | 1,580 | -74% | -33%/year |
| Egyptian Pound (EGP) | 15.7 | 50.5 | -69% | -29%/year |
| Pakistani Rupee (PKR) | 177 | 281 | -37% | -14%/year |
| Indian Rupee (INR) | 74.5 | 86.8 | -14% | -5%/year |
| Philippine Peso (PHP) | 51.0 | 58.2 | -12% | -4%/year |
| Canadian Dollar (CAD) | 1.26 | 1.37 | -8% | -3%/year |
| Australian Dollar (AUD) | 1.38 | 1.53 | -10% | -3%/year |
| British Pound (GBP) | 0.74 | 0.79 | -6% | -2%/year |
| Euro (EUR) | 0.88 | 0.92 | -4% | -1%/year |
| UAE Dirham (AED) | 3.67 | 3.67 | 0% | 0% (pegged) |
The naira has lost 74% of its value against the dollar in three years. This means that a Nigerian earning the same naira salary they earned in 2022 has experienced a 74% pay cut in global terms. The Egyptian pound has lost 69%. The Pakistani rupee has lost 37%.
The UAE dirham is pegged to the dollar, meaning zero currency risk. The Canadian dollar, Australian dollar, and British pound have experienced modest depreciation in the 6-10% range — inconvenient but not career-destroying.
For a professional who wants to save money, send remittances home, or build globally portable wealth, currency stability is not a luxury — it is a fundamental feature of whether your career is moving forward or backward.
Industry-Level Growth: Where Specific Careers Are Heading
Not all sectors grow equally. Understanding which industries are expanding in which countries is critical for career planning.
Sector Growth Rates by Country (2025–2028 Projected Annual Growth)
| Sector | Canada | Australia | UK | Germany | UAE | New Zealand |
|---|---|---|---|---|---|---|
| AI/Machine Learning | 28% | 24% | 26% | 22% | 35% | 18% |
| Renewable Energy | 22% | 25% | 20% | 24% | 18% | 21% |
| Healthcare/Biotech | 12% | 14% | 11% | 10% | 16% | 13% |
| Cybersecurity | 18% | 16% | 19% | 15% | 22% | 14% |
| Fintech | 15% | 13% | 17% | 12% | 24% | 11% |
| Construction/Infrastructure | 8% | 10% | 7% | 6% | 15% | 9% |
| Mining/Resources | 5% | 12% | 2% | 3% | 4% | 6% |
| Education/EdTech | 9% | 8% | 10% | 7% | 12% | 8% |
The UAE leads in AI/ML (35%), cybersecurity (22%), and fintech (24%) — reflecting its strategy to become a technology and financial hub. Australia leads in renewable energy (25%) and mining (12%), driven by its massive natural resource base and aggressive green transition targets. Canada is strong across multiple sectors, with no single sector below 8% projected growth.
The Five-Year Career Projection: What Staying vs. Moving Looks Like
Let's make this concrete. Here is what the next five years look like for a mid-career professional (5-8 years of experience) in three different scenarios, using a software engineer as the example.
Scenario 1: Software Engineer Staying in Lagos
| Year | Salary (NGN) | Salary (USD, at projected rate) | Real Purchasing Power (vs. 2025) | Cumulative Savings (USD) |
|---|---|---|---|---|
| 2025 | ₦14M | $8,860 | Baseline | $2,200 |
| 2026 | ₦16M | $7,840* | -11.5% | $4,100 |
| 2027 | ₦18.5M | $7,080* | -20.1% | $5,700 |
| 2028 | ₦21M | $6,460* | -27.1% | $7,000 |
| 2029 | ₦24M | $5,930* | -33.1% | $8,100 |
*Projected at continued 18% annual naira depreciation.
Scenario 2: Same Engineer Moves to Toronto
| Year | Salary (CAD) | Salary (USD) | Real Purchasing Power (vs. 2025) | Cumulative Savings (USD) |
|---|---|---|---|---|
| 2025 | CAD $105K | $76,600 | Baseline | $15,300 |
| 2026 | CAD $112K | $80,900 | +5.6% | $31,500 |
| 2027 | CAD $120K | $85,700 | +11.9% | $48,700 |
| 2028 | CAD $128K | $90,500 | +18.2% | $67,000 |
| 2029 | CAD $135K | $94,400 | +23.2% | $86,400 |
Scenario 3: Same Engineer Moves to Dubai
| Year | Salary (AED) | Salary (USD) | Real Purchasing Power (vs. 2025) | Cumulative Savings (USD) |
|---|---|---|---|---|
| 2025 | AED 280K | $76,200 | Baseline | $22,900 |
| 2026 | AED 308K | $83,900 | +10.1% | $48,100 |
| 2027 | AED 340K | $92,600 | +21.5% | $75,900 |
| 2028 | AED 372K | $101,300 | +32.9% | $106,300 |
| 2029 | AED 405K | $110,300 | +44.7% | $139,400 |
After five years, the Lagos-based engineer has accumulated $8,100 in savings. The Toronto-based engineer has accumulated $86,400. The Dubai-based engineer — benefiting from zero income tax and a dollar-pegged currency — has accumulated $139,400.
The difference is not just about higher salaries. It is about the interaction of salary, currency stability, inflation, and tax structure. The Lagos engineer's purchasing power declined by 33% despite receiving regular raises. The Dubai engineer's purchasing power increased by 45%.
The Economies to Watch: Where Is Momentum Building?
Beyond the current snapshot, several economies are building momentum that will shape the next decade.
Economic Momentum Indicators (2025)
| Country | GDP Growth Trend | FDI Inflow Trend | Credit Rating Trend | Infrastructure Spend (% of GDP) | Workforce Growth Trend |
|---|---|---|---|---|---|
| UAE | Accelerating | +18% YoY | Stable (AA) | 8.5% | Growing (immigration) |
| Canada | Improving | +8% YoY | Stable (AAA) | 5.2% | Growing (immigration) |
| Australia | Improving | +12% YoY | Stable (AAA) | 4.8% | Growing (immigration) |
| Germany | Bottoming out | +3% YoY | Stable (AAA) | 3.8% | Shrinking (aging) |
| UK | Slow recovery | +5% YoY | Stable (AA) | 4.1% | Stable |
| New Zealand | Recovering | +7% YoY | Stable (AA+) | 4.5% | Growing (immigration) |
| India | Strong | +22% YoY | Improving (BBB-) | 6.2% | Growing (demographic) |
| Nigeria | Moderate | -5% YoY | Declining (B-) | 1.8% | Growing (demographic) |
| Pakistan | Fragile recovery | -12% YoY | Negative (B-) | 2.1% | Growing (demographic) |
| Egypt | Moderate recovery | +4% YoY | Stable (B) | 3.2% | Growing (demographic) |
The UAE, Canada, and Australia are the clearest momentum stories. All three have accelerating or improving GDP growth, increasing foreign direct investment, AAA or AA credit ratings, and workforce growth driven by immigration. They are not just growing now — they are building the conditions for sustained growth.
Nigeria and Pakistan show the concerning combination of declining FDI, negative or low credit rating trends, and massive demographic growth without corresponding job creation. These are economies where the structural conditions are making it harder — not easier — to build wealth over time.
What This Means for Career Planning
Economic data is only useful if it changes how you make decisions. Here is what this data says for different professionals:
If you are in tech — Canada, Australia, and the UAE offer the strongest combination of sector growth, salary levels, and immigration accessibility. All three are experiencing tech job growth above 15% annually with salaries 8-15x what equivalent roles pay in Nigeria or Pakistan.
If you are in healthcare — The UK, Canada, and Australia have the most severe healthcare worker shortages and the most established pathways for international healthcare professionals. Salaries are 5-10x domestic equivalents, and qualification recognition processes, while lengthy, are well-documented.
If you are in engineering or trades — Australia and Canada are the standouts, driven by mining, construction, and the energy transition. Regional premiums of 20-40% above metro salaries create exceptional earning potential, and both countries offer immigration points bonuses for working in regional areas.
If you are in finance — The UAE and UK offer the strongest combinations of sector growth and salary levels. Dubai's zero income tax makes it particularly attractive for accumulating wealth, while London remains the global center for financial services outside New York.
The economic data is not destiny. But it is direction. The economies that are growing, creating jobs, and maintaining stable currencies are overwhelmingly the ones actively recruiting international talent. The economies where purchasing power is collapsing, job creation cannot keep pace with population growth, and currencies are in freefall are the ones producing the professionals that the growing economies need.
Understanding which side of that equation you are on — and whether you want to stay there — is the most important career planning exercise you can do in 2025.
