Economy
Cali and the department (province) of Valle del Cauca (Valley of the Cauca River) conform one of the principal commercial centers in Colombia. The city is a national and international point of exchange. Cali has a privileged geographical location due to its proximity to the port-city of Buenaventura which is Colombian main port on the Pacific ocean. The city's economy is preceded and established mostly by its history reflected in the many sugar plantations on the area, which are part of the legacy of the haciendas (plantations). Industrial development is remarkable for the regional economy; the north part of the city is the most industrialized district. The city of Yumbo, a northern suburb of the metro area, is a major industrial hub for many corporations, such as Colombia's beverage producer Postobón S.A. and Bavaria a SABMiller brewery, among others.
Since 1940, Valle del Cauca's PIB has grown at twice the average rate of the country, according to DANE statistics. In 1997 the regional GDP growth rate slowed, not even reaching 1%. In 1999 countrywide recession affected specially the regional economy, and GDP decreased −4% annually. Since then the economy has improved dramatically.
Economy 2006–2011 Between 2006 and 2011 the economy of Cali has continued to be 'dependent' on textiles and cultivation of sugar, according to several reports.
Read more about this topic: Cali
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)
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)