Editing Taipei (section)

==Economy==
[[File:Aerial panorama of Taipei City's west.jpg|thumb|Aerial panorama of Taipei City's west]]
{{See also|Economy of Taiwan}}
[[File:Bellavita and CPCCT head office 20100907.jpg|thumb|Bellavita Shopping Center and [[CPC Corporation, Taiwan|CPC]] Building at [[Xinyi Business Area|Xinyi Special District]]]]
[[File:Neihu during 2015 winter solstice.jpg|thumb|Taipei [[Neihu District|Neihu]] Technology Park]]

As Taiwan's business, financial, and technology hub, Taipei has been at the center of rapid economic development in the country and has now become one of the global cities in technology and electronics.<ref>{{cite book |last=Kwok |first=R. Yin-Wang |title=Globalizing Taipei: the political economy of spatial development |publisher=Routledge |year=2005 |page=163 |isbn=0-415-35451-X}}</ref> This development is part of the so-called [[Taiwan Economic Miracle]] which has seen dramatic growth in the city following [[foreign direct investment]] in the 1960s. Taiwan is now a [[creditor]] economy, holding one of the world's largest [[List of countries by foreign exchange reserves|foreign exchange reserves]] of over US$403 billion as of December 2012.<ref>{{cite web |url=http://eng.stat.gov.tw/point.asp?index=5 |title=National Statistics, Republic of China – Latest Indicators |publisher=Directorate General of Budget, Accounting and Statistics |access-date=15 March 2010 |archive-url=https://web.archive.org/web/20110427175827/http://eng.stat.gov.tw/point.asp?index=5 |archive-date=27 April 2011 |url-status=live}}</ref>

Despite the [[1997 Asian Financial Crisis|Asian financial crisis]], the economy continues to expand at about 5% per year, with virtually full employment and low inflation. The city's GDP stand at US$327 billion in 2014.<ref>{{Cite news |url=https://www.brookings.edu/research/global-metro-monitor/ |title=Global Metro Monitor |last=Parilla |first=Alan Berube, Jesus Leal Trujillo, Tao Ran, and Joseph |date=22 January 2015 |work=Brookings |access-date=18 July 2018 |language=en-US |archive-url=https://web.archive.org/web/20170525113815/https://www.brookings.edu/research/global-metro-monitor/ |archive-date=25 May 2017 |url-status=live}}</ref> {{As of|2013}}, the nominal GDP per capita in Taipei city is 5th highest in East Asia, behind Tokyo, Singapore, Osaka, and Hong Kong, but ahead of Seoul, as well as London and Paris, according to ''The Economist''.<ref>{{Cite web |url=http://i.imgur.com/4Mcv6ZY.png |title=Archived copy |access-date=20 December 2015 |archive-url=https://web.archive.org/web/20151222132057/http://i.imgur.com/4Mcv6ZY.png |archive-date=22 December 2015 |url-status=dead}}</ref> GDP per capita based on Purchasing Power Parity (PPP) in Taipei in 2015 was US$44,173, behind that of Singapore (US$90,151 in 2016 from the IMF) and Hong Kong (US$58,322 in 2016 from the IMF; also based on PPP).<ref>{{cite web |url=https://tw.news.yahoo.com/%E4%BA%9E%E5%A4%AA%E6%9C%AA%E4%BE%86%E9%83%BD%E5%B8%82%E6%8E%92%E5%90%8D-%E5%8F%B0%E5%8C%97%E5%83%85%E6%AC%A1%E6%96%B0%E5%8A%A0%E5%9D%A1%E6%9D%B1%E4%BA%AC-025243290.html |title=亞太未來都市排名 台北僅次新加坡東京 |date=16 December 2015 |access-date=13 January 2018 |archive-url=https://web.archive.org/web/20180113203211/https://tw.news.yahoo.com/%E4%BA%9E%E5%A4%AA%E6%9C%AA%E4%BE%86%E9%83%BD%E5%B8%82%E6%8E%92%E5%90%8D-%E5%8F%B0%E5%8C%97%E5%83%85%E6%AC%A1%E6%96%B0%E5%8A%A0%E5%9D%A1%E6%9D%B1%E4%BA%AC-025243290.html |archive-date=13 January 2018 |url-status=live}}</ref> The ''Financial Times'' ranked Taipei highly in economic potential (2nd, behind Tokyo) and business friendliness (4th) in 2015.<ref>{{cite web |url=http://www.cna.com.tw/news/firstnews/201512165010-1.aspx |title=亞太未來都市排名 台北僅次新加坡東京 &#124; 重點新聞 &#124; 中央社即時新聞 Cna News |date=16 December 2015 |access-date=20 December 2015 |archive-url=https://web.archive.org/web/20151219050411/http://www.cna.com.tw/news/firstnews/201512165010-1.aspx |archive-date=19 December 2015 |url-status=live}}</ref> The city is home to 30 billionaires, the 16th most in the world, ahead of many global cities such as Los Angeles and Sydney.<ref>{{Cite web |url=http://www.hurun.net/EN/Article/Details?num=2B1B8F33F9C0 |title=Hurun Report - Details|website=www.hurun.net |access-date=18 July 2018 |archive-url=https://web.archive.org/web/20180303225425/http://www.hurun.net/EN/Article/Details?num=2B1B8F33F9C0 |archive-date=3 March 2018 |url-status=dead}}</ref> Business Insider also ranks Taipei the 5th most high-tech city globally, the highest in Asia, in 2017.<ref>{{Cite news |url=http://www.businessinsider.com/the-most-high-tech-cities-in-the-world-2017-8#5-taipei-taiwan-20 |title=The 25 most high-tech cities in the world |work=Business Insider |access-date=18 July 2018 |archive-url=https://web.archive.org/web/20180718055117/http://www.businessinsider.com/the-most-high-tech-cities-in-the-world-2017-8#5-taipei-taiwan-20 |archive-date=18 July 2018 |url-status=live}}</ref> While the IESE Cities in Motion Index 2017 ranks Taipei as the smartest technology city globally.<ref>{{Cite web |url=https://blog.iese.edu/cities-challenges-and-management/2017/05/25/164/ |title=IESE Cities in Motion Index 2017 {{!}} Cities in Motion |website=blog.iese.edu |language=en-US |access-date=18 July 2018 |archive-url=https://web.archive.org/web/20180718055406/https://blog.iese.edu/cities-challenges-and-management/2017/05/25/164/ |archive-date=18 July 2018 |url-status=dead}}</ref>

Taipei's main development fields include the [[information and communications technology]] (hardware and software), biotechnology, general merchandizing (wholesale/retail), financial services, and [[Meetings, incentives, conferencing, exhibitions|MICE]] industries. Most of the country's major firms are based there including [[Acer Inc.|Acer Computers]], [[Asus]], [[CTBC Bank]], [[Fubon Financial Holding Co.|Fubon Financial Holding]], [[Tatung Company]], [[D-Link]], and others. 5 Global Fortune 500 companies are headquartered in Taipei.<ref>{{Cite web |url=http://fortune.com/global500/list/filtered?hqcity=Taipei |title=Fortune Global 500 List 2017: See Who Made It |website=Fortune |language=en-US |access-date=18 July 2018 |archive-url=https://web.archive.org/web/20180718114449/http://fortune.com/global500/list/filtered?hqcity=Taipei |archive-date=18 July 2018 |url-status=live}}</ref> The city also attracts many multi-national corporations, international financial institutions, foreign consulates, and business organizations to set up base there. Thus, Taipei has nearly 3,500 registered foreign businesses and attracts over 50% of the total foreign investment in Taiwan.<ref>{{Cite web |url=http://invest.taipei/pages/E01-1.aspx |title=ITO Invest Taipei |website=invest.taipei |access-date=18 July 2018 |archive-url=https://web.archive.org/web/20180718055321/http://invest.taipei/pages/E01-1.aspx |archive-date=18 July 2018 |url-status=dead}}</ref> Foreign companies with offices or regional headquarters in Taipei include [[Google]], [[Microsoft]], [[IBM]], [[Intel]], [[HSBC]], [[Citibank]], [[Facebook]], [[Amazon.com|Amazon]], [[Apple Inc.|Apple]], [[JP Morgan]], [[PwC]], and many others. Most financial and foreign firms like to reside in the central business district of Taipei, the [[Xinyi Special District]]: Citi, JP Morgan, DBS Bank, Cathay Life Insurance, Shin Kong Commercial Bank, and Hua Nan Bank have all established skyscrapers in the area. Meanwhile, technology and electronics companies are often co-located in the [[Neihu Technology Park]] or the [[Nankang Software Park]]. The startup and innovation scene in Taipei is also very vibrant. In 2018 alone, Microsoft announced plans to invest US$34 million to create an artificial intelligence R&D center in Taipei, while Google announced it will hire 300 people and train 5,000 more in artificial intelligence for machines.<ref>{{Cite news |url=https://www.forbes.com/sites/ralphjennings/2018/04/04/why-google-ibm-and-microsoft-all-decided-to-expand-in-taiwan-this-year/#2c0f6c475c72 |title=Why Google, IBM & Microsoft Are All Expanding in Taiwan This Year |last=Jennings |first=Ralph |work=Forbes |access-date=18 July 2018 |language=en |archive-url=https://web.archive.org/web/20180718083924/https://www.forbes.com/sites/ralphjennings/2018/04/04/why-google-ibm-and-microsoft-all-decided-to-expand-in-taiwan-this-year/#2c0f6c475c72 |archive-date=18 July 2018 |url-status=live}}</ref> Taipei is Google's biggest engineering site in Asia.<ref>{{Cite web |url=https://asia.nikkei.com/Business/Science/Google-expands-in-Taiwan-its-top-Asian-R-D-hub |title=Google expands in Taiwan, its top Asian R&D hub |website=Nikkei Asian Review |language=en-GB |access-date=18 July 2018 |archive-url=https://web.archive.org/web/20180718000401/https://asia.nikkei.com/Business/Science/Google-expands-in-Taiwan-its-top-Asian-R-D-hub |archive-date=18 July 2018 |url-status=dead}}</ref> IBM also announced in 2018 that it will develop a cloud research lab and expand its R&D center in Taipei with eyes on artificial intelligence, blockchain technology, and cloud computing. According to the 2016 Global Entrepreneurship Development Index, Taipei's entrepreneurial spirit ranks 6th worldwide and 1st in Asia.<ref>{{Cite web |url=http://invest.taipei/pages/E01-5.aspx |title=ITO Invest Taipei |website=invest.taipei |access-date=18 July 2018 |archive-url=https://web.archive.org/web/20180718083911/http://invest.taipei/pages/E01-5.aspx |archive-date=18 July 2018 |url-status=dead}}</ref> Taipei has more than 400 startups and numerous incubation centers, accelerators, venture capitals, and angel investors.<ref>{{Cite web |url=https://angel.co/taiwan |title=Taiwan Startups |website=AngelList |access-date=18 July 2018 |archive-url=https://web.archive.org/web/20170227111008/https://angel.co/taiwan |archive-date=27 February 2017 |url-status=live}}</ref> The city's startup ecosystem is valued at US$580 million by Startup Genome in 2018.<ref>{{Cite web |url=https://startupgenome.com/all-report-thank-you/?file=2018 |title=I just downloaded the GSER 2018 by @startupgenome |website=startupgenome.com |language=en-US |access-date=18 July 2018}}{{Dead link|date=August 2019 |bot=InternetArchiveBot |fix-attempted=yes}}</ref>

Tourism is a small but significant component of the local economy<ref>{{cite web |url=http://admin.taiwan.net.tw/statistics/File/200812/table16_2008.xls |script-title=zh:歷年觀光外匯收入統計 |publisher=Tourism Bureau, Ministry of Transportation and Communication |access-date=24 January 2010 |archive-url=https://web.archive.org/web/20110721114807/http://admin.taiwan.net.tw/statistics/File/200812/table16_2008.xls |archive-date=21 July 2011 |url-status=dead}}</ref><ref>{{cite web |url=http://admin.taiwan.net.tw/statistics/File/200812/tourist_spots_2008.xls |script-title=zh:97年臺閩地區主要觀光遊憩區遊客人次月別統計 |publisher=Tourism Bureau, Ministry of Transportation and Communication |access-date=24 January 2010 |archive-url=https://web.archive.org/web/20110721114816/http://admin.taiwan.net.tw/statistics/File/200812/tourist_spots_2008.xls |archive-date=21 July 2011 |url-status=dead}}</ref> with international visitors totaling almost 3 million in 2008.<ref>{{cite web |url=http://www.euromonitor.com/Euromonitor_Internationals_Top_City_Destination_Ranking |title=Euromonitor International's Top City Destination Ranking |date=20 January 2010 |access-date=26 January 2010 |archive-url=https://web.archive.org/web/20110305195249/http://www.euromonitor.com/Euromonitor_Internationals_Top_City_Destination_Ranking |archive-date=5 March 2011 |url-status=live}}</ref> Taipei has many top tourist attractions and contributes a significant amount to the US$6.8 billion tourism industry in Taiwan.<ref>{{cite news |url=http://focustaiwan.tw/ShowNews/WebNews_Detail.aspx?ID=201007140032&Type=aLIV |title=Taiwan's tourism revenue on the rise: survey |publisher=Focus Taiwan News Channel |date=14 July 2010 |access-date=15 July 2010 |archive-url=https://web.archive.org/web/20110725172707/http://focustaiwan.tw/ShowNews/WebNews_Detail.aspx?ID=201007140032&Type=aLIV |archive-date=25 July 2011 |url-status=live}}</ref>