With its historical background as a commercial center flourishing through active international exchange within Asia, Fukuoka City grew to become an important strategic base of the whole Kyushu market during the period of rapid post-war economic growth in the country. As featured by the concentration of branch offices, wholesale functions of the local industries and other industries including retail, distribution, services and finance within the region, the industrial structure of Fukuoka City is well illustrated by its strong tertiary industry with its sophisticated functions.
A Hong Kong based magazine has recently named Fukuoka City the best Asian city to live in, because of its comfortable urban environment and the concentration of universities that cultivate great human resources. As its prestige proves, Fukuoka City is one of the outstanding hubs for IT-related industries in the country. Furthermore, its convenient access to the airport and seaport provides great opportunities for business with Asia and beyond.
Such particular characteristics in the industrial structure have enabled
Fukuoka City to have a flexible stance capable of responding to economic
changes throughout its history.
Without much influence from the collapsing of Japan's bubble economy, private investment has remained active in Fukuoka City, attracting more human resources, goods, capital, and information, among other things, to the area. Consequently, Fukuoka City was able to face the turbulent transitions of the times more successfully compared to the other major cities of Japan.
However, recent changes in the socio-economic environment and the persistent economic doldrums of the country have steadily affected the city's economic infrastructure. These include: changes in the distribution structure; a decreasing number of offices and employees in the wholesale industry; intensified competition in the retail industry of the city with other suburban retailers; and other factors.
Furthermore, the recent rapid advancement of the IT revolution (information technology revolution) together with the changes in the distribution structure are estimated to bring a substantial impact to the very base of the infrastructure that has supported the city's economy. It has thus become a matter of crucial importance for Fukuoka City to cope with these changes with flexibility and timeliness. |