India: demographics and Bitcoin
46 sats \ 6 comments \ @TomK 2 Jan 2023 bitcoin
India, with its relatively strong believe in the freemarket and better demographics as it will be soon the largest population on earth, probably could soon overtake Japan and Germany economically to take over the 3rd place in the global economy.
The country could be one center of growth in the 20s. And with its history of being in love with gold it is quite realistic that the tech-affine young generation could easily allocate growing amounts of their ressources to Bitcoin.
Here are some graphics: https://twitter.com/ThomasKolbe11/status/1609792881098690560?t=1aZVn8RYAYD4j0VpYXyv5Q&s=19
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7 sats \ 3 replies \ @cointastical 2 Jan 2023
If bitcoin were to capture even a decent fraction of remittances that would be a huge boost towards mass adoption.
Indians living in the GCC region do not have the option of naturalization. Once they retire, almost every penny they earned and saved in those countries is repatriated to India.
Two things have changed in recent years:
First is the dramatic growth in size of the Indian diaspora in the US which is now approaching five million. In the period from 2000 to 2019, the number of people of Indian heritage living here increased nearly two and a half times, from 1.9 million to 4.6 million.
Second is the unprecedented growth in technology, communication, and transportation, which has shortened the geographic and psychological distance between the United States and India. In recent years, in addition to sending money to family members, a lot of Indian Americans have also invested in land and businesses in India.
As remittances to India touch $100 billion, diaspora puts its money where its mouth is #116165 https://www.americanbazaaronline.com/2022/12/29/indian-diaspora-100-billion-remittance-451962/
Why India’s secret export power is remittance https://timesofindia.indiatimes.com/why-indias-secret-export-power-is-remittance/articleshow/96657873.cms Archive
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25 sats \ 2 replies \ @TomK OP 2 Jan 2023
Thank You for this information. Thats a very strong argument if You keep in mind how easy it is to get access to the btc ecoystem and what's the dynamic like in the LN based on Taro! Greets and thanks again!
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0 sats \ 1 reply \ @cointastical 2 Jan 2023
Probably could soon overtake Japan and Germany economically to take over the 3rd place in the global economy.
Not sure how soon, but yes -- India needs to only grow their GDP by 15% to top Germany's, and 22% to top Japan's.
Share of the global GDP, by country (2022)
https://i.postimg.cc/pXBzxvD7/2023-01-01-11-43-53.jpg
Source:
Share of the global GDP, by country (2022) #116515 https://www.visualcapitalist.com/countries-by-share-of-global-economy
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25 sats \ 0 replies \ @TomK OP 3 Jan 2023
It could definitely be India's decade. And it will push some of the asian tigers, too. I really like Vietnam or Thailand as open market economies. That will attract lots of capital to flow.
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1 sat \ 1 reply \ @lunanto 2 Jan 2023
India's tech-savvy young generation will be a plus in the race to be the 3rd global economy
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0 sats \ 0 replies \ @TomK OP 2 Jan 2023
Thats the key for rapid Bitcoin adoption: they get gold and hard assets philosophically and by tradition but they have this passion for tech... soon they could be in the lead easily.
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