Relative Regional Advantages as a Vehicle for the Prosperity of Regions

Abstract

Abstract: During the last few decades, there has been an increasing interest in the topic of regions and relativeregional advantages and it is in constant mutation across the world. The most important reason for this is that during the last century regions across the world have witnessed numerous environmental, social, economic and urban changes. The aim of this study is to define the concept of relative regional advantages and to give acomprehensive review of the most important key issues that are related to it. Additionally, it is a review ofpractice of relative regional advantages in some of the developed countries including the United Kingdom and the European Union as well as other countries in different parts of the world. The purpose of this review is to find out the effects of the relative regional advantages and to what extent it needs to be supported. The studyemployed the review of practice technique as a method of research. Most of the results and findings reached through this study have emphasised the need for supporting relative regional advantages due to the fact that it has a greatpower to enhance the economies of regions, and thereby promote the social, environmental and urban issues.