Economy
Almaty generates approximately 20 per cent of Kazakhstan's GDP(or $36 billion in 2010); Almaty is a key financial centre in Central Asia and is considered to be a Gamma Global City
One of the largest industries in Almaty is finance, and its financial exports make it a large contributor to the Kazakhstan's balance of payments. Almaty is home to the BTA Bank, which is the largest bank in Central Asia, Kaz Kom Bank and other major banks. The Kazakhstan Stock Exchange is based in Almaty.
Almaty is also developing as the regional financial and business centre – RFCA..
Currently under construction is 'Almaty Financial District and Esentai Park'. This was designed by T.J. Gottesdiener, who designed 7 World Trade Center in New York City, Time Warner Center in New York City and Tokyo Midtown. Its publicised aim is to become the largest business centre in Central Asia. Esentai Tower, a 37 floors building in the park, is the tallest mixed-use building in Kazakhstan and lodges offices of companies such as Ernst & Young, HSBC and Credit Suisse. The first Ritz-Carlton Hotel in Kazakhstan will open by the end of 2013 in Esentai Tower.
Along with professional services, media companies are concentrated in Almaty as well. The media distribution industry has been growing rapidly since 2006. Major broadcasting channels KTK and NTK are based in Almaty, as are several national newspapers.
There are plans to construct a Western Europe-Western China highway, passing through Almaty. A new port in Almaty expects to handle about 45 million tonnes of cargo each year.
Air Astana is headquartered in the Air Astana Centre 1 in Almaty. Prior to their dissolution, Air Kazakhstan and Kazakhstan Airlines were also headquartered in Almaty.
Read more about this topic: Almata
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)
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)
“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)