New York City has evolved all along the 20th century as the city of business. Nowadays it is the leading financial center (along with London and Tokyo) and it is the second largest city economy in the world. The New York Stock Exchange is definitely the largest stock exchange market in the world, attracting leading financial firms from the entire world to establish their offices in the city.
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The economy of the Big Apple is mainly powered by services and professional advisory, based on financial, insurance, health care and real estate industries. The city has a great concentration of companies that offer consultancy in law, accountancy and management. Some of the most important global companies have its headquarters established in New York and plenty of others have leading regional offices here. Manufacturing, even being in decline, is still another important engine of economic growth and a huge employment provider sector.
New York City is home to six stock, futures and commodities exchanges which make the city a major financial services exporter. NYSE represents an effective mechanism for growing enterprises, where they offer stock shares in order to bankroll their projects.
This financial and commercial leadership has helped to establish the dollar as a universal reference currency during the last decades. When visiting New York it is very important to keep this in mind since foreign currency is not easily accepted. It is always convenient to have enough dollars in your pocket. Another option is to pay with credit cards, since this is a much extended form of payment accepted by all kind of shops and service providers.
For more information about the economy and living in New York, contact us and we will gladly send you further material about any subject of your interest. We will e-mail this information at no cost within 72 hours and it will be specific to your requirements.
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