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Prior to 2016, the North America region claimed the largest economic impact of violence. However, since 2016, Asia-Pacific has overtaken North America as the region with the highest economic impact, primarily driven by the costs associated with conflict and terrorism.

Asia-Pacific economic impact of violence amounts to $3.4 trillion in 2019. However, this figure decreased for the first time in seven years, falling by 0.5% from 2018 to 2019. China accounts for 63% of the region’s total economic impact, followed by Japan at 9.7% and South Korea at 5.6%. Consequently, China and to a lesser extent, Japan and South Korea drive the region’s economic impact of violence.

Despite this, Asia-Pacific is the third most peaceful region out of nine regions, behind Europe and North America, which include the United States and Canada. Furthermore, five countries in Asia-Pacific continue to rank in the top 25 of the Global Peace Index (GPI). New Zealand ranks first in the region and second overall in the 2020 GPI, despite a deterioration in its GPI score of 2.3%. New Zealand suffered a significant deterioration because of the high profile terror attack on two mosques in Christchurch in March 2019, which resulted in 51 deaths.

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Vision of Humanity

Vision of Humanity is brought to you by the Institute for Economics and Peace (IEP), by staff in our global offices in Sydney, New York, The Hague, Harare and Mexico. Alongside maps and global indices, we present fresh perspectives on current affairs reflecting our editorial philosophy.