The Asia–Pacific (APAC) [1] is the region of the world adjoining the western Pacific Ocean. The region's precise boundaries vary depending on context, but countries and territories in Australasia, East Asia, and Southeast Asia are often included. In a wider context, Central Asia, North Asia, the Pacific Islands, South Asia, West Asia (excluding the Arabian Peninsula and the Levant), and even Pacific-adjoining countries in the Americas can be included. For example, the Asia-Pacific Economic Cooperation (APEC) includes five countries ( Canada, Chile, Mexico, Peru, and the United States) in the New World. The term has become popular since the late 1980s in commerce, finance, and politics. Despite the heterogeneity of the regions' economies, most individual nations within the zone are emerging markets experiencing rapid growth. Sometimes, the notion of "Asia–Pacific excluding Japan" (APEJ) is considered useful. [2]
In accordance with the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), the Asia–Pacific region includes a total of 51 countries and seven territories grouped into five subregions: [3]
In a wider context, the following countries and territories can also be included in the Asia–Pacific region:
APEJ (Asia-Pacific Excluding Japan) and EEMEA (Eastern Europe, Middle East, and Africa) will grow their combined share of this figure from 17 percent to 22 percent during the same period, as North America's share adjusts from 53 percent to 46 percent.