METI Regional Economic Revitalization Survey Report (FY2024)

Survey Overview This is a regional economic revitalization survey report (Report Number: 1000062) conducted by the Ministry of Economy, Trade and Industry (METI) in FY2024. It analyzes policy challenges toward industrial promotion and economic revitalization in local areas experiencing population decline and aging. Current Status of Regional Economy Regional real GDP growth rate is 0.8% (national average 1.3%), and the shortage of industrial successors has become serious due to the outflow of young people to urban areas. The situation is severe due to market shrinkage from population decline, labor shortages, and weakening of industrial foundations. Regional Resource Utilization Strategy Regional industrial development leveraging unique strengths will be promoted through value creation utilizing distinctive resources and traditional industries of each region, strengthening cooperation with tourism industry, and promoting sixth industrialization. Regional brand building and overseas expansion, and strengthening regional trading company functions will be promoted. Digital Garden City Initiative Digital divide elimination and regional convenience improvement will be achieved through promoting digital technology utilization in rural areas, developing telework environments, and promoting smart city development. Independent development of regional economy will be supported through strengthening cooperation with regional financial institutions, enhancing startup support, and promoting human resource return flow. Expected Effects The goal is to realize sustainable regional society through achieving 1.5% regional real GDP growth rate, 20% improvement in young generation settlement rate, and 30% increase in regional brand product sales.