For Fast-Growing Metro Economies, Don't Look to the U.S. or Europe

The economic power of the world, much like its population, is increasingly concentrated in metropolitan areas. But given the economic turmoil of recent years, the health and wealth of these metros varies significantly from place to place. According to a new report on the largest 200 metros from the Brookings Institution, the top performing metro economies today are largely outside of the typically successful U.S. and Western Europe, and can vary greatly even within countries.

By looking at changes in income (measured by GDP) and employment between 2010 and 2011, the report tracks the economic wellbeing of 200 metro areas. These areas, combined, represent 48 percent of the output of the global economy. For example, the report looks at 64 metro areas in North America. These collectively contribute about 62 percent of the combined GDP of Canada and the U.S. Between 2010 and 2011 they represented 83 percent of the growth in the combined GDP. And it’s a similar story in other countries and regions, often to a much greater degree.