Global GDP ranking of metropolitan areas (2012)
(Greater Tokyo metropolitan area)
Future competitiveness of cities (2013) ranking
(Greater Tokyo metropolitan area)
Population (Feb. 2020)
City of Yokohama
Office rent affordability (Jul. 2018)
cheaper than Tokyo
Miki Shoji Co., ltd
You might be wondering, “How far from Tokyo and other major Japanese cities is Yokohama?”
Here’s what you need to know:
- Yokohama is a major commercial and industrial hub in the Greater Tokyo Area, which has the world’s largest city economy.
- Yokohama’s proximity to a major market enables companies to be in close touch with the needs of clients and society.
- Yokohama offers comparable access to market and manpower as central Tokyo, while keeping business costs such as office rent more affordable.
The Greater Tokyo Area, including Yokohama and the Tokyo Metropolis, is the world’s top city economy in terms of population and trade; it fosters the highest GDP in the world. The economy of the Greater Tokyo Area is equivalent to that of Greater New York and Greater Los Angeles combined(US Export.gov,2017). A major city within this mega economy, Yokohama alone has a population of about 3.7 million (August 2018), placing it between Los Angeles and Chicago(2017).
As a mega market, the Greater Tokyo Area provides businesses with a full understanding of the potential needs and challenges that arise when working with clients. This close proximity to consumers fosters an ideal environment for innovation; accordingly, the World Intellectual Property Organization (WIPO) ranked the Greater Tokyo Area as top in the world in consecutive years 2016 and 2017 for the number of major international patent applications. With its innovation-inspiring swirl of potential clients and consumers, the Greater Tokyo Area is ideal for international companies wishing to enter the Japanese market.
Within the Greater Tokyo Area, the central part of Tokyo boasts the highest concentration of businesses. Those who locate themselves in Yokohama have an added advantage in that they enjoy convenient access to central Tokyo—Tokyo Station or Shinjuku Station in under 30 minutes—while appreciating the 40% cheaper rented office spaces. Moreover, as all Tokaido-line bullet trains stop in Yokohama, it is more convenient than Tokyo for a round trip to Nagoya or Osaka.
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