Destinations

The destinations of TIME 2019 are Shanghai, Tokyo & Osaka. This year we decided to go to three different cities in East Asia. Underneath we will give a description on why these three cities specifically were chosen.

Shanghai

Shanghai is the largest city in China and has been one of its major socioeconomic centers. Shanghai is now facing great opportunities in turning itself into an international economic, financial and trade center. China’s continuous economic growth provides a solid base for Shanghai to move towards this goal. Shanghai is China’s biggest and most developed city. The economy of Shanghai is rapidly growing every year with roughly 11%.

Important industries in Shanghai:

  • Financial services
  • Retail
  • Manufacturing
  • Logistics
  • Real estates

Tokyo

Japan has got the third largest economy in the world with Tokyo as its management and finance center. Tokyo is Japan’s leading industrial center, with a highly diversified manufacturing base for products such as cars, clothing and audio and visual devices. Tokyo will host the Olympic Games in 2020, causing its economy to grow even more. Japan is aiming to profile itself as the country that is ahead with the use of hydrogen. The Land of the Rising Sun is fully committed to this renewable source in the direction of the Olympic Games.

Important industries in Tokyo:

  • Agriculture
  • Manufacturing
  • Fishing
  • Tourism
  • Mining and petroleum exploration  

Osaka

Osaka is located in the South of Japan and is Japan’s second biggest city after Yokohama. In the 2017 Global Financial Centres Index, Osaka was ranked as having the 15th most competitive financial center in the world and fifth most competitive in Asia. Osaka is located at the converge of a busy river and sea routes, causing the city to naturally grow into a flourishing economic center. Osaka has eight international partner cities including Chicago, Shanghai and Sao Paulo, two friendship -and collaboration cities and seven sister harbors. This causes the city to have an open and international mindset.

Important industries in Osaka:

  • Environmental technology and alternative energy
  • Innovative drug development, medical equipment and regenerative medicine
  • Cutting-edge manufacturing companies
  • Innovation creation
  • Insurance
  • Home construction

To conclude, all three cities can be considered as great cities to do business. Japan and China are both important economic countries in terms of GNP with China having the second largest economy in the world and Japan the third. This causes both countries to be important and powerful in today’s world.

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