Editing Valencia (section)

==Economy==
[[File:Banco de Valencia, Valencia, España, 2014-06-30, DD 135.JPG|thumb|right|[[Banco de Valencia|Bank of Valencia]]]]

Valencia enjoyed strong economic growth before the [[Great Recession|Great Recession of 2008]], much of it spurred by tourism and [[construction]],{{Citation needed|date=June 2008}} with concurrent development and expansion of telecommunications and transport. The city's economy is service-oriented, as nearly 84% of the working population is employed in service sector occupations.{{Citation needed|date=May 2014}} However, the city still maintains an important industrial base, with 8.5% of the population employed in this sector. Growth has recently improved in the manufacturing sector, mainly automobile assembly; [[Ford Valencia Body and Assembly]] lies in the municipality of [[Almussafes]].<ref>[http://corporate.ford.com/our-company/operations-worldwide/global-operations-detail/spain-assemblyplants-valenciabody Global Operations – Spain: Valencia Body and Assembly] {{Webarchive |url=https://web.archive.org/web/20141120053655/http://corporate.ford.com/our-company/operations-worldwide/global-operations-detail/spain-assemblyplants-valenciabody |date=20 November 2014 }} – Corporate.ford.com</ref> Agricultural activity still occurs but is of relatively minor importance, with only 1.9% of the working population working in agriculture and {{cvt|3,973|ha}} of farmland (mostly orchards and citrus groves).

Since the onset of the Great Recession, Valencia had experienced a growing unemployment rate, increased government debt, and other issues, and severe spending cuts were introduced by the city government. However, in 2009, Valencia was designated "the 29th fastest-improving European city".<ref>{{cite web |url=http://www.citymayors.com/business/euro_bizcities.html |title=Best European business cities |publisher=City Mayors |date=28 October 2009 |access-date=15 September 2011 |archive-date=23 July 2013 |archive-url=https://web.archive.org/web/20130723081225/http://www.citymayors.com/business/euro_bizcities.html |url-status=live}}</ref> 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 city|global cities]].<ref name="GAWC">{{cite web |title=The World According to GaWC 2020 |url=https://www.lboro.ac.uk/gawc/world2020t.html |website=GaWC - Research Network |publisher=Globalization and World Cities |access-date=31 August 2020 |archive-date=24 August 2020 |archive-url=https://web.archive.org/web/20200824031341/https://www.lboro.ac.uk/gawc/world2020t.html |url-status=live}}</ref>

The city is the seat of one of the four [[stock exchange]]s in Spain, the {{ill|Bolsa de Valencia|es}}, part of [[Bolsas y Mercados Españoles]] (BME), owned by [[SIX Group]].<ref>{{Cite web |url=https://valenciaplaza.com/bolsa-de-valencia-ni-valenciana-ni-espanola-suiza-como-bme-por-six-group |title=Bolsa de Valencia, ni valenciana ni española: ya es suiza (como BME) |date=12 June 2020 |first=Luis A. |last=Torralba |website=Valencia Plaza |access-date=20 July 2020 |archive-date=20 July 2020 |archive-url=https://web.archive.org/web/20200720112221/https://valenciaplaza.com/bolsa-de-valencia-ni-valenciana-ni-espanola-suiza-como-bme-por-six-group |url-status=live}}</ref>

The Valencia metropolitan area had a [[List of cities by GDP|GDP amounting to $52.7&nbsp;billion]], and $28,141 per capita.<ref name="Brookings">{{cite web |url=http://www.brookings.edu/research/interactives/global-metro-monitor-3 |title=Global city GDP 2011 |publisher=Brookings Institution |url-status=dead |archive-url=https://web.archive.org/web/20130605135349/http://www.brookings.edu/research/interactives/global-metro-monitor-3 |archive-date=5 June 2013}}</ref>

In 2021, the [[European Investment Bank]] (EIB) provided a €27 million loan to Sociedad Anónima Municipal Actuaciones Urbanas de Valencia (AUMSA) to support affordable public rental housing projects, which included building 323 new units and renovating four existing ones, expanding AUMSA's housing stock by more than 50%.<ref name=":208">{{Cite book |last=Bank |first=European Investment |url=https://www.eib.org/en/publications/20240079-eib-group-activity-in-eu-cohesion-regions-2023 |title=EIB Group activities in EU cohesion regions 2023 |date=2024-07-15 |publisher=European Investment Bank |isbn=978-92-861-5761-5 |language=EN}}</ref><ref>{{Cite web |title=Press corner |url=https://ec.europa.eu/commission/presscorner/home/en |access-date=2024-07-31 |website=European Commission - European Commission}}</ref>

In 2022, the city was voted the world's top destination for [[expatriate]]s, based on criteria such as [[quality of life]] and affordability.<ref>{{Cite web |date=5 December 2022 |title=Valencia named top city for expats |url=https://www.independent.co.uk/travel/news-and-advice/valencia-top-city-expats-spain-b2239265.html |access-date=30 January 2023 |website=The Independent |language=en |archive-date=30 January 2023 |archive-url=https://web.archive.org/web/20230130153005/https://www.independent.co.uk/travel/news-and-advice/valencia-top-city-expats-spain-b2239265.html |url-status=live }}</ref><ref>{{Cite web |last=Liu |first=Jennifer |title=This Spanish city is the No. 1 place to live and work abroad―and it's about to get easier to become a digital nomad there |url=https://www.cnbc.com/2022/12/01/this-spanish-city-is-the-no-1-place-to-live-and-work-abroad.html |access-date=30 January 2023 |website=CNBC |date=December 2022 |language=en |archive-date=30 January 2023 |archive-url=https://web.archive.org/web/20230130151636/https://www.cnbc.com/2022/12/01/this-spanish-city-is-the-no-1-place-to-live-and-work-abroad.html |url-status=live }}</ref>

===Port===
{{Main|Port of Valencia}}
[[File:Valence Port (2).jpg|thumb|View of the port of Valencia]]
Valencia's port is the biggest on the Mediterranean western coast,<ref>{{cite web |url=http://www.valenciaport.com/en-US/ValenciaportEntorno/ValenciaportCifras/Introduccion/Paginas/ValenciaportCifras.aspx |title=Valenciaport in figures |publisher=valenciaport.com |access-date=1 January 2009 |url-status=dead |archive-url=https://web.archive.org/web/20090909202120/http://www.valenciaport.com/en-US/ValenciaportEntorno/ValenciaportCifras/Introduccion/Paginas/ValenciaportCifras.aspx |archive-date=9 September 2009}}</ref> the first in Spain in container traffic {{As of|2008|lc=y}}<ref>{{cite web |author=Burguera |url=http://www.lasprovincias.es/valencia/20080910/economia/valencia-supera-algeciras-lidera-20080910.html |title=Valencia supera an Algeciras y lidera por primera vez el tráfico de contenedores en España. Las Provincias |date=10 September 2008 |publisher=Lasprovincias.es |access-date=18 June 2009 |language=es |archive-date=12 February 2009 |archive-url=https://web.archive.org/web/20090212111800/http://www.lasprovincias.es/valencia/20080910/economia/valencia-supera-algeciras-lidera-20080910.html |url-status=live}}</ref> and the second in Spain<ref>{{cite web |url=http://www.puertoalgeciras.org/2008/04/resumen-general-del-trafico-portuario.html |title=Resumen general del tráfico portuario en febrero &#124; Puerto Bahía de Algeciras Blog |publisher=Puertoalgeciras.org |date=22 February 1999 |access-date=18 June 2009 |archive-url=https://web.archive.org/web/20090806075730/http://www.puertoalgeciras.org/2008/04/resumen-general-del-trafico-portuario.html |archive-date=6 August 2009 |url-status=dead}}</ref> in total traffic, handling 20% of Spain's exports.<ref>{{cite news |last=Mckinley |first=James C. |url=https://www.nytimes.com/global/spainvalencia/nine.html |title=NY Times, 30 July 2008 |work=[[The New York Times]] |date=2 March 2011 |access-date=9 March 2011 |url-status=dead |archive-url=https://web.archive.org/web/20080407171724/http://www.nytimes.com/global/spainvalencia/nine.html |archive-date=7 April 2008}}</ref> The main exports are foodstuffs and beverages. Other exports include oranges, furniture, ceramic tiles, fans, textiles and iron products. Valencia's [[Secondary sector of the economy|manufacturing sector]] focuses on metallurgy, chemicals, textiles, shipbuilding and brewing. Small and medium-sized industries are an important part of the local economy, and before the current crisis,{{When|date=June 2023}} unemployment was lower than the Spanish average.

Valencia's port underwent radical changes to accommodate the 32nd [[America's Cup]] in 2007. It was divided into two parts—one was unchanged while the other section was modified for America's Cup festivities. The two sections remain divided by a wall that projects far into the water to maintain clean water for America's Cup events.

===Transport===
[[File:Estació d'Aeroport (Metrovalència).jpg|thumb|right|Metrovalencia, rapid transit]]

Public transport is provided by [[Ferrocarrils de la Generalitat Valenciana]] (FGV), which operates the [[Metrovalencia]] (rapid transit, tram) and other rail and bus services. The [[Estació del Nord (Valencia)|Estació del Nord]] (North Station) is the major railway terminus in Valencia. A second station, the [[Valencia-Joaquín Sorolla railway station|Estació de València-Joaquín 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 {{convert|9|km|mi|abbr=on}} west of the city centre, and [[Alicante–Elche Miguel Hernández Airport|Alicante–Elche Airport]] is approximately {{convert|133|km|mi|abbr=on}} south of the city centre.

A [[bicycle-sharing system]] named [[Valenbisi]] is available to both visitors and residents. As of 13 October 2012, the system had 2750 bikes distributed over 250 stations throughout the city.<ref>{{cite web |url=http://www.valenbisi.com/What-is-Valenbisi |title=Valenbisi's official website |publisher=Valenbisi.com |access-date=24 October 2015 |archive-date=7 November 2015 |archive-url=https://web.archive.org/web/20151107064417/http://www.valenbisi.com/What-is-Valenbisi |url-status=live}}</ref>

The average amount of time people spend on public transit in Valencia on a weekday is 44 minutes. 6% of public transit riders ride for more than 2 hours every day. The average amount of time people wait at a stop or station for public transit is 10 minutes, while 9% of riders wait for over 20 minutes on average every day. The average distance people usually ride in a single trip with public transit is {{cvt|5.9|km}}, while 8% travel for over {{cvt|12|km}} in a single direction.<ref>{{cite web |url=https://moovitapp.com/insights/en/Moovit_Insights_Public_Transit_Index_Spain_Valencia-1669 |title=Valencia Public Transportation Statistics |publisher=Global Public Transit Index by Moovit |access-date=19 June 2017 |archive-date=24 August 2017 |archive-url=https://web.archive.org/web/20170824180628/https://moovitapp.com/insights/en/Moovit_Insights_Public_Transit_Index_Spain_Valencia-1669 |url-status=live}} [[File:CC-BY_icon.svg|50x50px]] Material was copied from this source, which is available under a [[creativecommons:by/4.0/|Creative Commons Attribution 4.0 International License]].</ref>

===Tourism===
[[File:La Malvarrosa - Juanedc.jpg|thumb|Malvarrosa Beach]]
Starting in the mid-1990s, Valencia, formerly an industrial centre, saw rapid development that expanded its cultural and tourism possibilities, and transformed it into a newly vibrant city. Many local landmarks were restored, including the medieval [[Torres de Serranos]] and Quart Towers and the [[:es:Monasterio de San Miguel de los Reyes|Monasterio de San Miguel de los Reyes]], which now holds a conservation library. Whole sections of the old city, for example the Carmen Quarter, have been extensively renovated. The ''Passeig Marítim'', a {{convert|4|km|mi|0|abbr=on|adj=on}}&nbsp;long palm tree-lined beach promenade, was constructed along the [[beach]]es of the north side of the port ''(Platja de Les Arenes, Platja del Cabanyal and Platja de la Malva-rosa'').

Valencia boasts a highly active and diverse [[nightlife]], with [[Bar (establishment)|bars]], dance bars, [[beach bar]]s and [[nightclub]]s staying open well past midnight.<ref>{{cite web |url=https://www.independent.ie/life/travel/europe/viva-valencia-welcome-to-the-european-city-that-never-sleeps-34341132.html |title=Viva Valencia! Welcome to the European city that never sleeps |date=10 January 2006 |publisher=Independent.ie |access-date=14 February 2022 |archive-date=6 February 2022 |archive-url=https://web.archive.org/web/20220206175153/https://www.independent.ie/life/travel/europe/viva-valencia-welcome-to-the-european-city-that-never-sleeps-34341132.html |url-status=live }}</ref> The city has numerous [[Convention center|convention centres]] and venues for trade events, among them the Institución Ferial de Valencia and the Palau de Congressos (Conference Palace), and several five-star hotels to accommodate business travelers.

[[File:Fallas2017 Mascletà 06.jpg|thumb|left|Locals and tourists watching the traditional "[[mascletà]]" during ''[[Falles]]'']]
In its long history, Valencia has acquired many local traditions and festivals, among them the ''[[Valencia Fallas|Falles]]'', which was declared a Celebration of International Tourist Interest ''(Festes d'Interés Turístic Internacional)'' on 25 January 1965 and an [[intangible cultural heritage]] by UNESCO on 30 November 2016, and the Water Tribunal of Valencia ''(Tribunal de les Aigües de València)'', which was declared an intangible cultural heritage in 2009. In addition to these, Valencia has hosted world-class events that helped shape the city's reputation and put it in the international spotlight, such as the Regional Exhibition of 1909, the 32nd and the 33rd [[America's Cup]] competitions, the [[European Grand Prix]] of [[Formula One]] auto racing, the former [[Valencia Open]] tennis tournament, and the Global Champions Tour of equestrian sports. The final round of the [[Grand Prix motorcycle racing|MotoGP]] Championship is held annually at the [[Circuit Ricardo Tormo|Circuit de la Comunitat Valenciana]].

The [[2007 America's Cup]] yachting races were held at Valencia in June and July 2007 and attracted huge crowds. The Louis Vuitton stage drew 1,044,373 visitors and the America's Cup match drew 466,010 visitors to the event.<ref>{{cite web |title=Economic Impact of the 32nd America's Cup Valencia 2007 |url=http://www.tourisminsights.info/ONLINEPUB/SPORT%20AND%20EVENTS/SAET%20PDFS/INSTITUTO%20VALENCIANO%20DE%20INVESTIGACIONES%20ECONOMICAS%20(2007),%20Economic%20Impact%20of%20the%2032nd%20America%92s%20Cup%20Valencia%202007,%20Ivie,%20Valencia%20.pdf |archive-url=https://web.archive.org/web/20160911122058/http://www.tourisminsights.info/ONLINEPUB/SPORT%20AND%20EVENTS/SAET%20PDFS/INSTITUTO%20VALENCIANO%20DE%20INVESTIGACIONES%20ECONOMICAS%20(2007),%20Economic%20Impact%20of%20the%2032nd%20America%92s%20Cup%20Valencia%202007,%20Ivie,%20Valencia%20.pdf |url-status=dead |archive-date=11 September 2016 |website=tourisminsights.info |publisher=Instituto Valenciano de Investigaciones Económicas |access-date=31 August 2016}}</ref>

In October 2021, Valencia was shortlisted for the [[European Commission]]'s 2022 European Capital of Smart Tourism award, along with [[Bordeaux]], [[Copenhagen]], [[Dublin]], [[Florence]], [[Ljubljana]], and [[Palma de Mallorca]].<ref>{{Cite web |title=2022 European Capital of Smart Tourism - Competition winners 2022 |url=https://smart-tourism-capital.ec.europa.eu/cities/competition-winners-2022_en |website=European Commission |date=2 October 2021 |access-date=8 November 2022 |archive-date=7 November 2022 |archive-url=https://web.archive.org/web/20221107212251/https://smart-tourism-capital.ec.europa.eu/cities/competition-winners-2022_en |url-status=live }}</ref>

Valencia boasts a [https://www.comunitatvalenciana.com/en/valencia/valencia Museu Obert|Open Air Museum], as a walking tour.