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Economy

Asia has the second largest nominal GDP of all continents, after Europe, but the largest when measured in purchasing power parity. As of 2011, the largest economies in Asia are China, Japan, India, South Korea and Indonesia. Based on Global Office Locations 2011, Asia dominated the office locations with 4 of top 5 were in Asia, Hong Kong, Singapore, Tokyo, Seoul and Shanghai. Around 68 percent of international firms have office in Hong Kong.

In the late 1990s and early 2000s, the economies of India have been growing rapidly, both with an average annual growth rate of more than 8%. Other recent very high growth nations in Asia include Israel, Malaysia, Indonesia, Bangladesh, Thailand, Vietnam, Mongolia, Uzbekistan, Cyprus and the Philippines, and mineral-rich nations such as Kazakhstan, Turkmenistan, Iran, Brunei, United Arab Emirates, Qatar, Kuwait, Saudi Arabia, Bahrain and Oman.

Asia is the largest continent in the world and it is rich in natural resources, such as petroleum, forests, fish, water, rice, copper and silver. Manufacturing in Asia has traditionally been strongest in East and Southeast Asia, particularly in China, Taiwan, South Korea, Japan, India, the Philippines, and Singapore. Japan and South Korea continue to dominate in the area of multinational corporations, but increasingly the PRC and India are making significant inroads. Many companies from Europe, North America, South Korea and Japan have operations in Asia's developing countries to take advantage of its abundant supply of cheap labour and relatively developed infrastructure.

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