Definition: In the context of economics and finance, a "boomtown" refers to an area or region that experiences rapid growth and economic expansion. Boomtowns are often characterized by high levels of investment, infrastructure development, and population increase. They are often associated with industries such as manufacturing, retail, and service sectors, which have seen significant growth in recent years. However, boomtowns can also be characterized by instability or volatility, as they may experience periods of economic downturn or recession.