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==Economy== {{Main|Economy and industry of Cardiff}} [[File:Exchange Hotel, Cardiff.jpg|thumb|[[The Coal Exchange]]]] As the capital city of Wales, Cardiff is the main engine of growth in the Welsh economy. Though the population of Cardiff is about 10% of the Welsh population, the economy of Cardiff makes up nearly 20% of Welsh GDP and 40% of the city's workforce are daily in-commuters from the surrounding South Wales area.<ref>{{Cite web |url=http://www.statistics.gov.uk/articles/economic_trends/Sub-regional_&_Local_Area_GDP.pdf |archive-url=https://web.archive.org/web/20090924210535/http://www.statistics.gov.uk/articles/economic_trends/Sub-regional_%26_Local_Area_GDP.pdf |archive-date=24 September 2009 |url-status=dead |title=Sub-regional and local area gross domestic product |last=Clifton-Fearnside |first=Alex |author2=Adam Douglas |date=14 May 2002 |publisher=Office for National Statistics |access-date=18 April 2008 }}</ref><ref>{{Cite web |url=http://www.statswales.wales.gov.uk/TableViewer/document.aspx?ReportId=4903&IF_Language=isl |title=Statistics on Commuting in Wales |date=5 December 2007 |publisher=Statistics for Wales |access-date=18 April 2008 |archive-url=https://web.archive.org/web/20090114021425/http://www.statswales.wales.gov.uk/TableViewer/document.aspx?ReportId=4903&IF_Language=isl |archive-date=14 January 2009 |url-status=dead }}</ref> Industry has played a major part in Cardiff's development for many centuries. The main catalyst for its transformation from a small town into a big city was the demand for coal required in making iron and later steel, brought to sea by [[packhorse]] from [[Merthyr Tydfil]]. This was first achieved by building a {{convert|25|mi|km|adj=on|abbr=out}} canal from Merthyr ({{cvt|510|ft|m|disp=or}} above sea level) to the [[Taff Estuary]] at Cardiff.<ref name="canal">{{Cite web |url=http://www.alangeorge.co.uk/the_glamorganshire_canal.htm |title=The Glamorganshire Canal |access-date=19 April 2008 |url-status=dead |archive-url=https://web.archive.org/web/20071227160758/http://www.alangeorge.co.uk/the_glamorganshire_canal.htm |archive-date=27 December 2007 }}</ref> Eventually the [[Taff Vale Railway]] replaced the canal barges and massive marshalling yards sprang up as new docks were developed in Cardiff β all prompted by the soaring worldwide demand for coal from the South Wales valleys. At its peak, Cardiff's port area, known as [[Tiger Bay]], became the busiest port in the world and β for some time β the world's most important coal port.<ref name="Grauniad Dinas">{{Cite news |url=https://www.theguardian.com/travel/2009/jun/09/walk-guides-cardiff-wales-architecture?page=2 |title=Cardiff's millennium makeover, Cardiff β Travel |access-date=2 June 2010 |date=9 June 2009 |work=The Guardian |location=London |archive-url=https://web.archive.org/web/20140606214328/http://www.theguardian.com/travel/2009/jun/09/walk-guides-cardiff-wales-architecture?page=2 |archive-date=6 June 2014 |url-status=live }}</ref><ref name="BBC Dinas">{{Cite news |url=http://news.bbc.co.uk/1/hi/wales/2854567.stm |title=Capital claims β A city's struggle |access-date=2 June 2010 |date=22 April 2003 |work=BBC News |archive-url=https://web.archive.org/web/20040713044548/http://news.bbc.co.uk/1/hi/wales/2854567.stm |archive-date=13 July 2004 |url-status=live }}</ref> In the years leading up to the [[First World War]], more than 10 million tonnes of coal was exported annually from [[Cardiff Docks]].<ref>{{Cite web |url=http://www.museumwales.ac.uk/en/rhagor/article/?article_id=50 |archive-url=https://archive.today/20120530052329/http://www.museumwales.ac.uk/en/rhagor/article/?article_id=50 |url-status=dead |archive-date=30 May 2012 |title=Cardiff β Coal and Shipping Metropolis of the World |publisher=National Museum of Wales |access-date=19 April 2008 }}</ref> In 1907, Cardiff's [[Coal Exchange]] was the first host to a business deal for a million [[Pound Sterling|pounds Sterling]].<ref>{{Cite web |url=http://www.glamro.gov.uk/check/Building%20of%20a%20Capital%202/A_Why.html |title=Why Did Cardiff Grow? |publisher=Glamorgan Record Office |access-date=19 April 2008 |url-status=dead |archive-url=https://web.archive.org/web/20081123034747/http://www.glamro.gov.uk/check/Building%20of%20a%20Capital%202/A_Why.html |archive-date=23 November 2008 }}</ref> The high demand for Welsh coal and specifically Welsh artificial fuel, named Patent Fuel, is shown by the numerous factories producing this fuel, with the same recipe, in the region of Cardiff. Most well known factories were the Star Patent fuel Co., the Crown Patent fuel, the Cardiff Patent fuel etc.<ref>{{Cite book |last=Davies |first=J. |title=The South Wales Coal Annual For 1908 |year=1908 |edition=1908 |location=Cardiff }}</ref> After a period of decline, due to low demand on coal, Cardiff's port has started to grow again β over 3 million tonnes of cargo passed through the docks in 2007.<ref>{{Cite news |url=http://newsvote.bbc.co.uk/1/hi/wales/7414502.stm |title=Ports' resurgence as imports grow |date=22 May 2008 |publisher=BBC News Wales |access-date=28 May 2008 }}</ref> [[File:71 Bridge Street (1), Cardiff city centre.jpg|upright|thumb|The 26-storey [[Bridge Street Exchange]] at {{cvt|85|m|ft}} in height, is the [[List of tallest buildings in Cardiff|tallest building in Cardiff]].<ref name="Beeb">{{cite news |url=https://www.bbc.co.uk/news/uk-wales-south-east-wales-43880385 |title=Tallest building for Cardiff gets 'topped out' |work=BBC News |date=24 April 2018 |access-date=22 November 2021 }}</ref>]] Cardiff today is the main finance and business [[Service (economics)|services]] centre in Wales, with strong representation of finance and business services in the local economy. This sector, combined with the public administration, education and health sectors, have accounted for about 75% of Cardiff's economic growth since 1991.<ref name="employ">{{Cite web |url=http://www.cardiff.gov.uk/objview.asp?Object_ID=3393& |title=Labour Market:An overview of Cardiff Employment and the local economy |date=9 April 2004 |publisher=Cardiff County Council |access-date=19 April 2008 |url-status=dead |archive-url=https://web.archive.org/web/20110609174301/http://www.cardiff.gov.uk/objview.asp?Object_ID=3393& |archive-date=9 June 2011 }}</ref> The city was recently placed seventh overall in the top 50 European cities in the fDI 2008 Cities of the Future list published by the [[fDi magazine]], and ranked seventh in terms of attracting foreign investment.<ref>{{Cite web |url=http://fdimagazine.com/cp/10/FDI_052-055_0208-2.pdf |title=European Cities & Regions of the Future 2008/09 |date=1 February 2008 |access-date=25 March 2008 |url-status=dead |archive-url=https://web.archive.org/web/20080408201244/http://fdimagazine.com/cp/10/FDI_052-055_0208-2.pdf |archive-date=8 April 2008 }}</ref> Notable companies such as [[Legal & General]], [[Admiral Insurance]], [[HBOS]], [[Zurich Financial Services|Zurich]], [[ING Direct]], [[The Automobile Association|The AA]], [[Principality Building Society]], [[118 118 (UK)|118118]], [[Centrica plc|British Gas]], [[SA Brain & Company Ltd|Brains]], [[SWALEC|SWALEC Energy]] and [[BT Group|BT]], all operate large national or regional headquarters and contact centres in the city, some of them based in Cardiff's office towers such as [[Capital Tower, Cardiff|Capital Tower]] and Brunel House. Other major employers include [[NHS Wales]] and the Senedd. On 1 March 2004, Cardiff was granted [[Fairtrade City]] status. Cardiff is one of the most popular tourist destinations in the United Kingdom, receiving 18.3 million visitors in 2010 and generating Β£852 million for the city's economy.<ref name="tourism">{{Cite web |url=http://www.cardiff.gov.uk/content.asp?nav=2874,5852&parent_directory_id=2865&id=11590&Language= |title=Tourism Boost for Cardiff Economy |date=13 May 2011 |publisher=[[Cardiff County Council]] |archive-url=https://web.archive.org/web/20120402175425/http://www.cardiff.gov.uk/content.asp?nav=2874%2C5852&parent_directory_id=2865&id=11590&Language= |archive-date=2 April 2012 |url-status=dead |access-date=27 May 2011 }}</ref> One result is that one in five employees in Cardiff is based in the distribution, hotels and restaurants sector, highlighting the growing retail and tourism industries in the city.<ref name="employ"/> The city has many hotels of varying sizes and standards, providing almost 9,000 available beds.<ref>{{Cite web |url=http://www.cardiff.gov.uk/ObjView.asp?Object_ID=8719 |format=PDF |title=Cardiff Essential Facts β Tourism |publisher=Cardiff County Council |date=1 May 2007 |access-date=25 March 2008 |url-status=dead |archive-url=https://web.archive.org/web/20110609173534/http://www.cardiff.gov.uk/ObjView.asp?Object_ID=8719 |archive-date=9 June 2011 }}</ref> {{multiple image |align=right |direction=horizontal |header=The BBC Cymru Wales estate in Cardiff |header_align=center |header_background= |footer= |footer_align=left |footer_background= |caption_align=center |total_width=400px |image1=BBC Cymru Wales (geograph 6226511) (cropped).jpg |alt1= |caption1=[[BBC Cymru Wales New Broadcasting House|BBC New Broadcasting House]] |image2=Roath Lock studios in Cardiff.jpg |alt2= |caption2=[[Roath Lock|BBC Roath Lock Studios]] }} Cardiff is home to the Welsh media and a large media sector with [[BBC Cymru Wales]], [[S4C]] and [[ITV Wales & West|ITV Wales]] all having studios in the city.<ref name="media"/> There is a large independent TV production industry sector of over 600 companies, employing around 6,000, with a turnover estimated at Β£350 million.<ref name="media">{{Cite web |url=http://www.cardiff.gov.uk/ObjView.asp?Object_ID=3775 |title=The Film, TV and Multimedia Sector in Cardiff |publisher=Economic Development Division, Cardiff County Council |format=PDF |date=1 December 2003 |access-date=11 September 2008 |url-status=dead |archive-url=https://web.archive.org/web/20110609173256/http://www.cardiff.gov.uk/ObjView.asp?Object_ID=3775 |archive-date=9 June 2011 }}</ref> Just to the north-west of the city, in [[Rhondda Cynon Taff]], the first completely new film studios in the UK for 30 years are being built, to be named [[Valleywood]]. The studios are set to be the biggest in the UK. In 2011 the BBC completed the [[Roath Lock]] studios in Cardiff Bay to film dramas such as ''Casualty'', ''Doctor Who'', and ''Pobol y Cwm''.<ref>{{Cite news |title=BBC Wales drama village's first phase completed |work=BBC News |date=20 January 2011 |url=https://www.bbc.com/news/uk-wales-12231117 |access-date=18 May 2017 |archive-url=https://web.archive.org/web/20171211123601/http://www.bbc.com/news/uk-wales-12231117 |archive-date=11 December 2017 |url-status=live }}</ref> Cardiff has several regeneration projects, such as St David's 2 Centre and surrounding areas of the city centre, and the Β£1.4 billion International Sports Village in Cardiff Bay, which played a part in the [[2012 Summer Olympics|London 2012 Olympics]]. It features the only [[Olympic-size swimming pool|Olympic-standard swimming pool]] in Wales, the [[Cardiff International Pool]], which opened on 12 January 2008. According to the Welsh Rugby Union, the Principality Stadium contributed Β£1 billion to the Welsh economy in the ten years after it opened in 1999, with around 85% of that staying in the Cardiff area.<ref name="WRU Mileniwm 1">{{Cite web |title=Stadium has boosted economy by Β£1bn in |url=http://www.walesonline.co.uk/business-in-wales/business-news/2009/06/24/stadium-has-boosted-economy-by-1bn-in-its-first-decade-91466-23959813/ |access-date=28 June 2009 |date=24 June 2000 |work=WalesOnline website |archive-url=https://web.archive.org/web/20090627031924/http://www.walesonline.co.uk/business-in-wales/business-news/2009/06/24/stadium-has-boosted-economy-by-1bn-in-its-first-decade-91466-23959813/ |archive-date=27 June 2009 |url-status=live }}</ref> ===Shopping=== {{See also|List of shopping arcades in Cardiff}} [[File:St David's Centre newly opened.jpg|thumb|[[St. David's (Cardiff)|St. David's]] in [[The Hayes]] is the [[List of UK shopping centres|largest shopping centre in Wales]].]] Most of Cardiff's shopping portfolio is in the [[Cardiff city centre|city centre]] around Queen Street, [[St. Mary Street/High Street|St Mary Street and High Street]], with large suburban [[retail parks]] in Cardiff Bay, [[Culverhouse Cross]], [[Leckwith]], [[Penylan|Newport Road]] and [[Pontprennau]], together with markets in the city centre and [[Splott]]. A Β£675 million regeneration programme for Cardiff's [[St. David's Centre]] was completed in 2009, providing a total of {{cvt|1400000|sqft|m2}} of shopping space, making it one of the largest shopping centres in the United Kingdom.<ref name="stdavids2">{{Cite web |url=http://www.stdavids2.com/Template01.asp?pageid=95 |title=St Davids 2 and Cardiff |access-date=3 January 2008 |url-status=dead |archive-url=https://web.archive.org/web/20070723160331/http://www.stdavids2.com/Template01.asp?pageid=95 |archive-date=23 July 2007 }}</ref> The centre was named the international shopping centre of the year in 2010 by Retail Leisure International (RLI).<ref name="StDavid22">{{Cite web |url=http://www.walesonline.co.uk/news/wales-news/2010/06/17/cardiff-s-st-david-s-is-world-s-top-retail-arcade-91466-26668936/ |title=St David 2 Worlds best shopping mall |date=16 June 2010 |access-date=17 June 2010 |archive-url=https://web.archive.org/web/20120123143923/http://www.walesonline.co.uk/news/wales-news/2010/06/17/cardiff-s-st-david-s-is-world-s-top-retail-arcade-91466-26668936/ |archive-date=23 January 2012 |url-status=live }}</ref> [[File:Summer on Queen Street - Cardiff - geograph.org.uk - 1363923.jpg|thumb|Queen Street, one of Cardiff's main shopping areas]] The [[Castle Quarter (Cardiff)|Castle Quarter]] is a commercial area in the north of the city centre, which includes some of Cardiff's Victorian and Edwardian arcades: [[Castle Arcade]], [[Morgan Arcade]] and [[Royal Arcade, Cardiff|Royal Arcade]], and principal shopping streets: [[St Mary Street/High Street|St Mary Street, High Street]], [[The Hayes]], and Queen Street. Morgan Arcade is home to [[Spillers Records]], the world's oldest record shop.<ref>{{Cite news |title=World's oldest record shop (est. 1894) is threatened with closure |url=https://www.theguardian.com/uk/2006/dec/12/pop.rock |work=guardian.co.uk |access-date=11 September 2008 |location=London |first=Steven |last=Morris |date=12 December 2006 |archive-url=https://web.archive.org/web/20140606214332/http://www.theguardian.com/uk/2006/dec/12/pop.rock |archive-date=6 June 2014 |url-status=live }}</ref><ref name="spillers">{{Cite news |url=http://entertainment.timesonline.co.uk/tol/arts_and_entertainment/article656416.ece |title=World's oldest record shop in the death grip of a developer |newspaper=The Times |quote=The owners of Spillers Records, recognised by Guinness World Records as the oldest such emporium on Earth, say that it will close unless a buyer is found. |date=1 December 2006 |access-date=11 September 2008 |location=London |first1=Fiona |last1=Hamilton |first2=Sam |last2=Coates |first3=Michael |last3=Savage |archive-url=https://web.archive.org/web/20110517084203/http://entertainment.timesonline.co.uk/tol/arts_and_entertainment/article656416.ece |archive-date=17 May 2011 |url-status=dead }}</ref> Cardiff has a number of markets, including the vast Victorian indoor [[Cardiff Market|Cardiff Central Market]] and the newly established Riverside Community Market, which specialises in locally produced organic produce.{{cn|date=September 2024}}
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