Economy
With its dozens of sandy, white beaches, such as Ponta Negra and its famous Morro do Careca, Tabatinga - the cliff of dolphins, Pirangi, Redinha, Pipa and Genipabu with its famous fixed sand dunes and imported dromedaries, tourism is the most important industry of Natal, attracting Brazilians, Europeans (many from Spain, England, Scandinavia, Germany, Portugal, Italy and France), and U.S. citizens alike. There has been an increase of 134% in foreign tourism in Natal between 2002 and 2005 (for the same time period the increase of foreign tourism in Brazil was 48%); This is a due to the accessibility of Natal and the appeal Brazil has for an increasing number of tourists, clearly showing that Natal is the area leading the Brazilian tourism boom. Natal is the number one area receiving international investments in Brazil. Natal will benefit enormously from the massive future investments on the coastline.
Within the next five years more than ten golf courses will be developed on the Natal coastline and more than $1.8 billion dollars will be invested in new hotels, resorts and improving infrastructure (the equivalent to 8% of all foreign investments that the entire Brazilian economy received last year). Due to the booming tourism and enormous potential for further growth, the local government has decided to build a new airport in Natal which will be the biggest airport in South America (8th biggest in the world). The airport will be specifically designed to be able to cater for the new Airbus A-380, which will further confirm Natal's position as the number one tourist destination in Brazil. Thompson Holidays started direct charter flights to Brazil in early 2006, and to no surprise the chosen destination was Natal. Being the Number one beach tourism area and a symbol of the Northeastern Brazil, Natal will benefit enormously from future domestic economic growth and increasing spending powers of the Brazilian population (180 million). Last year, 1.7 million Brazilians visited Natal (for the same period, 345,000 foreigners visited Natal).
It is also a relevant administrative center for the oil industry (Rio Grande do Norte being the second largest oil-producing state in Brazil). Thus, its Federal University of Rio Grande do Norte (UFRN) is a national scientific research pole on Oil Sciences (ranging from Geophysical to Law studies), supported mostly by Petrobras financing.
The fishing industry is strong (shark cartilage being a major export to Japan) as is the cultivation of tropical fruit, especially mangos, guavas, and cashews (the fruit and the nuts).
In fact, the largest cashew tree in the world is located near the coast in the neighborhood of Pirangi, south of the city center. This tree has a circumference of 500 metres and occupies an area of 7,300 m², making it 70 times the size of average cashew trees.
The GDP for the city was R$ 7,508,466,000 (2006).
The per capita income for the city was R$ 9,506 (2006).
Read more about this topic: Natal, Rio Grande Do Norte
Famous quotes containing the word economy:
“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)
“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)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)