Economy
The Stuttgart area is known for its high-tech industry. Some of its most prominent companies include Daimler AG, Porsche, Bosch, Celesio, Hewlett-Packard and IBM – all of whom have their world or European headquarters here.
Stuttgart is home to Germany's ninth biggest exhibition centre, Stuttgart Trade Fair which lies on the city outskirts next to Stuttgart Airport. Hundreds of SMEs are still based in Stuttgart (often termed Mittelstand), many still in family ownership with strong ties to the automotive, electronics, engineering and high-tech industry. Contact Air, a regional airline and Lufthansa subsidiary, is headquartered in Stuttgart.
Stuttgart has the highest general standard of prosperity of any city in Germany. Its nominal GDP per capita is €57,100 and GDP purchasing power parity (PPP) per capita is €55,400. Total GDP of Stuttgart is €33.9 billion, of which service sector contributes around 65.3%, industry 34.5%, and agriculture 0.2%.
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Famous quotes containing the word economy:
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)