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7. Economy

San Francisco’s economy

- 30 Oct 2009

Tourism is an important sector of San Francisco’s economy. San Francisco is the 4th most visited city in the United States: in 2007, it welcomed more than 16 million visitor. Silicon Valley, in the south of San Francisco, concentrates sectors with strong added value, most notably electronics, computer technology and Internet, increasing exponentially incomes in the region. Computer technology corporations such as IBM and Apple as well as well as Internet services providers like Yahoo! and Google are located in the Silicon Valley. However, the burst of the Internet bubble in the early 2000s forced the closure of many start-ups and activities in the region slowed down considerably.

San Francisco is also an important financial place, which developed in the 19th century with the financing of big projects, notably the construction of railways. While not quite as important as Wall Street, Financial District of San Francisco is nevertheless essential to the banking institutions of the region. Finally, thanks to its mild climate, California has become the first supplier of food and agriculture goods in the United States. The wine Valley, north of San Francisco, produces 80 % of the wine in the United States.

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