Editorial: Regions and cities – seizing their potential for stronger productivity and well-being

Current global megatrends – such as the digital transformation, climate change, migration or ageing – are likely to have a major impact on people’s lives. Similar to the effects of globalisation that have characterised the last two decades, the consequences of these megatrends can be highly diverse not only across countries, but also across regions and cities within a given country. This differential impact will add to the already heightened concern of policy makers about disparities related to jobs and income, and thus ultimately well-being, across regions and cities. Economic differences within countries are indeed already cause for concern: within OECD countries, the most productive region is on average twice as productive as the least productive one. Fundamental changes to traditional local economic structures that, for example, the digital transformation will cause could further exacerbate such regional discrepancies.