page_title: Tokyo
section_title: Economy
hierarchical_section_title: Tokyo / Economy
caption_attribution_description: 日本語: 東京タワー（六本木ヒルズより）
context_page_description: Tokyo, officially Tokyo Metropolis, is the capital and most populous prefecture of Japan. Located at the head of Tokyo Bay, the prefecture forms part of the Kantō region on the central Pacific coast of Japan's main island, Honshu. Tokyo is the political and economic center of the country, as well as the seat of the Emperor of Japan and the national government. In 2019, the prefecture had an estimated population of 13,929,280. The Greater Tokyo Area is the most populous metropolitan area in the world, with more than 37.393 million residents as of 2020.
  Originally a fishing village named Edo, the city became a prominent political center in 1603, when it became the seat of the Tokugawa shogunate. By the mid-18th century, Edo was one of the most populous cities in the world, with a population numbering more than one million. Following the end of the shogunate in 1868, the imperial capital in Kyoto was moved to the city, which was renamed Tokyo. Tokyo was devastated by the 1923 Great Kantō earthquake, and again by Allied bombing raids during World War II. Beginning in the 1950s, the city underwent rapid reconstruction and expansion, going on to lead Japan's post-war economic recovery.
context_section_description: Tokyo has the largest metropolitan economy in the world. According to a study conducted by PricewaterhouseCoopers, the Greater Tokyo Area (Tokyo-Yokohama) of 38 million people had a total GDP of $2 trillion in 2012 (at purchasing power parity), which topped that list.
  Tokyo is a major international finance center; it houses the headquarters of several of the world's largest investment banks and insurance companies, and serves as a hub for Japan's transportation, publishing, electronics and broadcasting industries. During the centralized growth of Japan's economy following World War II, many large firms moved their headquarters from cities such as Osaka (the historical commercial capital) to Tokyo, in an attempt to take advantage of better access to the government. This trend has begun to slow due to ongoing population growth in Tokyo and the high cost of living there.
  Tokyo was rated by the Economist Intelligence Unit as the most expensive (highest cost-of-living) city in the world for 14 years in a row ending in 2006, when it was replaced by Oslo, and later Paris.
  Tokyo emerged as a leading international financial center (IFC) in the 1960s and has been described as one of the three "command centers" for the world economy, along with New York City and London. In the 2017 Global Financial Centers Index, Tokyo was ranked as having the fifth most competitive financial center in the world (alongside cities such as London, New York City, San Francisco, Chicago, Sydney, Boston, and Toronto in the top 10), and third most competitive in Asia (after Singapore and Hong Kong). The Japanese financial market opened up slowly in 1984 and accelerated its internationalisation with the "Japanese Big Bang" in 1998. Despite the emergence of Singapore and Hong Kong as competing financial centers, the Tokyo IFC manages to keep a prominent position in Asia. The Tokyo Stock Exchange is Japan's largest stock exchange, and third largest in the world by market capitalization and fourth largest by share turnover. In 1990 at the end of the Japanese asset price bubble, it accounted for more than 60% of the world stock market value. Tokyo had 8,460 ha (20,900 acres) of agricultural land as of 2003, according to the Ministry of Agriculture, Forestry and Fisheries, placing it last among the nation's prefectures. The farmland is concentrated in Western Tokyo. Perishables such as vegetables, fruits, and flowers can be conveniently shipped to the markets in the eastern part of the prefecture. Komatsuna and spinach are the most important vegetables; as of 2000, Tokyo supplied 32.5% of the komatsuna sold at its central produce market.
  With 36% of its area covered by forest, Tokyo has extensive growths of cryptomeria and Japanese cypress, especially in the mountainous western communities of Akiruno, Ōme, Okutama, Hachiōji, Hinode, and Hinohara. Decreases in the price of timber, increases in the cost of production, and advancing old age among the forestry population have resulted in a decline in Tokyo's output. In addition, pollen, especially from cryptomeria, is a major allergen for the nearby population centers. Tokyo Bay was once a major source of fish. Most of Tokyo's fish production comes from the outer islands, such as Izu Ōshima and Hachijō-Jima. Skipjack tuna, nori, and aji are among the ocean products.
  Tourism in Tokyo is also a contributor to the economy. In 2006, 4.81 million foreigners and 420 million Japanese visits to Tokyo were made; the economic value of these visits totaled 9.4 trillion yen according to the Tokyo Metropolitan Government. Many tourists visit the various downtowns, stores, and entertainment districts throughout the neighborhoods of the special wards of Tokyo; particularly for school children on class trips, a visit to Tokyo Tower is de rigueur. Cultural offerings include both omnipresent Japanese pop culture and associated districts such as Shibuya and Harajuku, subcultural attractions such as Studio Ghibli anime center, as well as museums like the Tokyo National Museum, which houses 37% of the country's artwork national treasu
caption: Tokyo Tower at night
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