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Home to more than half of the world's population, the region has climbed from low- to middle-income status within a single generation. By 2040, it is likely to generate more than 50 percent of world gross domestic product, and could account for nearly 40 percent of global consumption. Over roughly the same period, its share of global airline travelers has risen from 33 percent to 40 percent, and its share of capital flows has increased from 13 percent to 23 percent.The region is home to 21 of the world's 30 largest, and four of the 10 most visited.It's not only external flows being channeled into Asia.In 2013-17, the country accounted for 35 percent of Asia's total outward FDI, with about one-quarter of that investment going to other Asian economies.Then there is "Emerging Asia," which comprises a relatively diverse group of small emerging economies that provide not only labor, but also growth potential, owing to rising productivity and consumption. These economies are deeply integrated with their regional neighbors: Their average share of intraregional flows of goods, capital and people is 79 percent, the highest of the four Asias.
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