29 Mega Economic Regions of the World
Visualizing the Megaregions driving the current Global Economy
The Global economy is on the brink of a slowdown. Central banks are positioning themselves to provide extra stimulus to prop up the global economy. There are certain regions of the World which account for the giant share of the total global economic output. With that in mind, we look at the infographic (below) which is based on the data compiled by the by CityLab researchers.
The criterion for defining these mega economic regions was a combined population of 5 million or higher, generating an economic output (GDP) of over $300 billion, on a PPP basis which was calculated from Oxford Economics via Brookings’ Global Metro Monitor 2018. While the areas of continuous light in the visualization came from National Oceanic & Atmospheric Administration (NOAA).
The term ‘megalopolis’ was coined by economic geographer Jean Gottmann in 1961 describing the emerging economic hub in the Northeast United States, that stretched from Boston to Washington, D.C. Ever since then, the term was applied to various regions in the World. Innovation & availability of better data now makes it easier to identify these economic regions. One such ingredient is the night-light data from satellites gathered from Visible Infrared Imaging Radiometer Suite (VIIRS).
29 such megaregions were eventually identified based on the combination of this data. Of the total, 11 are in Asia, 10 are in North America, 6 in Europe and one in Latin America signifying the power corridors of economic might.
Following is the list of Trillion dollar Megaeconomic regions of World:
Bos-Wash — Topping the list is the region which covers the Northeastern corridor of the United States, an area from Boston through New York and Philadelphia down to Washington, D.C., with a population of 47.6 million people and an economic output of $ 3.65 trillion.
Par-Am-Mun — The second spot is taken by this European megaregion which covers the four major cities of Paris, Amsterdam, Brussels, and Munich. 43.5 million people live in the region producing an economic output of $2.51 trillion.
Chi-Pitts — This region is in the heartland of the American nation. The mid-western economic regions consist of 50 metro areas including Minneapolis, Chicago, Indianapolis, Detroit, Cleveland, and Pittsburgh. 32.9 million people reside here with an economic output of $2.13 trillion.
Greater Tokyo — Fourth place is stolen by Asia’s biggest megaregion. Comparable to Spain & larger than Canada, the region has an economic output of just under $1.8 trillion with 39.1 million people living here.
SoCal — Runs down from San Diego to Los Angeles on the U.S West Coast. 22 million people generate $1.424 trillion in economic output.
Seoul-San — The economic corridor consists of the two biggest cities of South Korea. Population 35.5 million, Economic output 1.325 trillion
The Texas Triangle — spans southern U.S cities of Dallas, Houston, and San Antonio as well as Austin. Population 18.4 million, Economic output 1.227 trillion.
Beijing-Tianjin — This is China’s biggest megaregion which ranks among the World’s Top 25 economies. Population of 37.4 million, Economic output 1.226 trillion
Lon-Leed-Chester — Running through London, Leeds & Machester, this megaregion also includes in the Top 25 economies. Population 22.6 million, Economic output 1.177 trillion
Hong-Shen —Asian-Pacific mega economic region combines Chinese Shenzhen area & Hong Kong. Population 19.5 million, Economic output 1.043 trillion.