Economy

Commercial zone

Valencia enjoyed strong economic growth over the last decade, much of it spurred by tourism and the construction industry,[citation needed] with concurrent development and expansion of telecommunications and transport. Air Nostrum, a regional airline, is headquartered in Valencia.[12] The city's economy is service-oriented, as nearly 84% of the working population is employed in service sector occupations. However, the city still maintains an important industrial base, with 5.5% of the population employed in this sector. Agricultural activities are still carried on in the municipality, even though of relatively minor importance with only 1.9% of the working population and 3973 hectares planted mostly in orchards and citrus groves. Since the break of the crisis (2008), Valencia has been among the Spanish regions most affected by it and has not been able to slow down growing unemployment rate, growing government debt etc. Severe spending cuts have been introduced by the city authorities. In 2009, Valencia was the 29th fastest improving European city.[13] Its influence in commerce, education, entertainment, media, fashion, science and the arts contributes to its status as one of the world's "Gamma"-rank global cities.[1] The large factory of Ford Motor Company lies in suburb of city, in Almussafes.[14] The Valencia metropolitan area had a GDP amounting to $52.7 billion, and $28,141 per capita.[15]
Port

Port of Valencia

Valencias port is the biggest on the Mediterranean western coast,[16] the first of Spain in container traffic as of 2008[17] and the second of Spain[18] in total traffic, handling 20% of Spains exports.[19] The main exports are foodstuffs and beverages. Other exports include oranges, furniture, ceramic tiles, fans, textiles and iron products. Valencias manufacturing sector focuses on metallurgy, chemicals, textiles, shipbuilding and brewing. Small and medium sized industries are an important part of the local economy, and unemployment is lower than the Spanish average. Following the announcement that the 32nd America's Cup would be held in Valencia in 2007, the port underwent radical changes in which it was divided into two parts, one part remaining unchanged while the other section would be used exclusively for the America's Cup festivities. The two sections are now divided by a wall that projects far into the water in an effort to maintain clean water for the America's Cup side.

The North station (Estaci del nord) Transport

Public transport is provided by the Ferrocarrils de la Generalitat Valenciana (FGV) which operates the Metrovalencia and other rail and bus services. The Estaci del nord (North Station) is the main railway terminus in Valencia. A new temporary station, Estacin de Valncia-Joaqun Sorolla, has been built on land adjacent to this terminus to accommodate high speed AVE trains to and from Madrid, Barcelona, Seville and Alicante. Valencia Airport is situated 9 km (5.6 mi) west of Valencia city centre. Alicante Airport is situated about 170 km (110 mi) south of Valencia. The City of Valencia also makes available a bicycle sharing system named ValenbiSi to both visitors and residents. As of October 13, 2012, the system has 2750 bikes distributed over 250 stations all throughout the city.[20]