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:
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“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)