Economy
The economy of Santa Cruz relies mainly on services. Trade, tourism, import-export, the seaport and the presence of the major political and financial institutions, as well as the most important companies, guarantee a strong economic activity and development. The building sector is important, while industry, apart from the oil refinery and food processing, is relatively minor. Santa Cruz has regenerated many areas of the city and modernised its infrastructure, built brand new areas, malls, high buildings and some charismatic structures, such as Calatrava´s Auditorio or the Congress Hall, César Manrique´s Marina and the not-yet-completed Óscar Domínguez Museum of Modern Art and Culture (IODACC) and the new Plaza de España layout, both by Basel-based Pritzker Prize winner studio Herzog & de Meuron. Work to renew the man-made Las Teresitas Beach is ongoing under the direction of French architect Dominique Perrault.
Read more about this topic: Santa Cruz De Tenerife
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)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—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)