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and Real Estate Market - Tokyo's Position in the Global
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Tokyo's Position in the Global and Japanese Economy
[Tokyo Economic Bloc]
Premier Investment Corporation (PIC) focuses its investment on the Tokyo Economic Bloc, an area that encompasses the prefectures of Tokyo, Kanagawa (including the cities of Yokohama and Kawasaki), Saitama and Chiba, with the 23 wards of Tokyo forming the single most active segment of the Bloc.
The Tokyo Economic Bloc, with a population of more than 35 million (2007 U.N. estimate), is the world’s highest populated metropolitan area, and is also referred to in English as the Greater Tokyo Area or the Tokyo Metropolitan Area. Of its total area measuring 13,500km2, its urban function landmass is second in the world behind the New York City urban area, at 7,800 km2. The population density of the Tokyo Economic Bloc is about 2,642 people/ km2.
The Tokyo Economic Bloc, with its highly diversified manufacturing base concentrated in Chiba, Kawasaki and Yokohama, is the country’s leading industrial center. Data compiled by PricewaterhouseCoopers in 2008 shows the Bloc held onto the world’s top spot in gross domestic product (GDP), at US$1,479 billion – a total rivaling that of entire nations such as Italy, Brazil and Canada.
[Tokyo]
Japan’s political and commercial capital and management center, Tokyo is the central location of the Japanese national government, housing the Diet and most administrative agencies. The city is also the hub for Japan’s manufacturing, transportation, publishing, broadcasting and service industries, and is recognized along with New York City and London as a global financial center. The Tokyo Stock Exchange (TSE) – Japan’s largest exchange, the world’s second largest by market capitalization, and fourth overall in terms of share turnover – is situated in the city, as are the headquarters of several of the world’s largest investment banks and insurance companies. The city represents the largest metropolitan economy and metropolitan GDP in the world.
The city’s strong base in politics and economics lend to relative stability in the population level. Despite a slight change in recent trends, the population inflow into Tokyo exceeded the outflow by over 80,000 people in 2010. (report from Ministry of International Affairs and Communications). Tokyo further features a concentration of leading universities and other educational institutions that annually attract many young people to the city, making it the nation’s education center by default.
[GDP of Tokyo]
The 2008 PricewaterhouseCoopers study shows the agglomeration of Tokyo to be the world’s largest urban economy, with the largest gross metropolitan product (GMP) at purchasing power parity (PPP).
