Economy
San Salvador is not only the capital of El Salvador, but also the premier city in the country. The metropolitan area accounts for only 3% of the national territory, yet 70% of public and private investment is made there. The economy of San Salvador, Antiguo Cuscatlán, and Santa Tecla is a mixed one composed mainly of services, private education, banking, business headquartering, and industrial manufacturing. Other municipalities in the metropolitan area depend either on industry, like Soyapango and Ilopango, on public services, like Mejicanos, or on power generation, as in Nejapa and Apopa. The other municipalities have not developed their own economies, and provide work forces for industry in neighboring municipalities.
San Salvador, as well as the rest of the country, has used the U.S. dollar as its currency of exchange since 2001. This has been a boon to the Salvadoran economy, as it encourages foreign investors to launch new companies in El Salvador, saving them the inconvenience of conversion to other currencies. San Salvador's economy is based more on the service sector and retailing, than on industry or manufacturing.
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Famous quotes containing the word economy:
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)