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==Economy== [[File:View from Fagernesfjellet.jpg|thumb|right|View from Fagernes mountain overlooking Narvik harbour and Ofotfjord, April 2009.]] The [[Narvik (town)|town of Narvik]] is a commercial centre for the whole municipality and some of the neighbouring municipalities. [[Narvik University College]] has approximately 1,200 students. There are some high-tech businesses in Narvik (among them [[Natech]]) and the largest research institute in Northern Norway, [[Norut Narvik]]. Narvik was one of the first areas in the world to be affected by the [[financial crisis of 2007β2008]]. It lost the equivalent of US${{To USD|18|GBR|year=2007|round=Yes|r=0}} million in August 2007 after it invested in [[Citigroup]] securities.<ref name=":0" /> As the Norwegian government refused to bail them out, Narvik was forced to implement severe budget cuts.<ref name=":0">{{Cite news |last=Fouche |first=Gwladys |date=30 June 2008 |title=Sub-prime chill reaches the Arctic |url=https://www.theguardian.com/business/2008/jun/30/subprimecrisis.creditcrunch |url-status=live |archive-url=https://web.archive.org/web/20170112030246/https://www.theguardian.com/business/2008/jun/30/subprimecrisis.creditcrunch |archive-date=12 January 2017 |access-date=12 December 2016 |work=[[The Guardian]]}}</ref> ===Recreation and tourism=== [[File:Rallarveien Ofotbanen.jpg|thumb|right|Rallarveien; hiking route near the railway from the mountains down to the Rombaken fjord]] Narvik has access to numerous outdoor activities. This is the best known location in northern Norway for alpine skiing.<ref>{{Cite news |date=3 November 2008 |title=Winter rail destinations: Narvik |url=http://www.thelocal.se/15410/20081103 |url-status=live |archive-url=https://web.archive.org/web/20081107212849/http://www.thelocal.se/15410/20081103/ |archive-date=7 November 2008 |access-date=8 November 2008 |work=[[SJ AB]] |publisher=TheLocal.se}}</ref> [[File:Ofoten museum02.jpg|thumb|Museum Nord - Narvik]] There are lifts, and several of the slopes are floodlit. There is also a [[Gondola lift|cable car]] to Fagernesfjellet, with a view and the possibility to walk even higher up in the mountains. Narvik Winter Festival ({{langx|no|Vinterfestuka}}) takes place in early March. Mountain [[hiking]] is very popular in the area, and the mountain area near the Swedish border has several places of accommodation. A signed mountain bike route is also available. [[Wreck diving]] attracts divers to Narvik, as there are a lot of wrecks in or near the harbour, and more spread out in the fjord. Fishing in the fjord or in lakes and streams is a popular leisure activity. There are [[salmon]] rivers in Skjomen, Beisfjord and Bjerkvik.
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