Warsaw

:For other uses, see Warsaw (disambiguation) and Warszawa (disambiguation).

Economy

Business and commerce

Warsaw, and especially its downtown area of ?ródmie?cie is not only home to many national institutions and government agencies, but also plays host to a huge number of both domestic and international companies. In 2003 268,307 companies were registered in the city. Warsaw is seen as the heart of Poland by foreign investors whose financial participation in the city's development was estimated to be over 650 million euro a year (2002). Warsaw produces more than 15 % of Poland's income.

Related Topics:
?ródmie?cie - 2003 - Euro - 2002

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At the same time the unemployment rate is one of the lowest in Poland, not exceeding 6.5%, according to the official figures.

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The city itself collects 5,162,324 z?otys in taxes and direct government grants.

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It has been said that Warsaw, together with Frankfurt, London and Paris, is one of the tallest cities in Europe. 11 tallest skyscrapers of Poland, 9 of which are office buildings, are located in Warsaw. The centrally located tallest structure, the Palace of Culture and Science, is the 4th tallest building in the European Union.

Related Topics:
Frankfurt - London - Paris - Palace of Culture and Science

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Stock Exchange

Although Warsaw was home to a stock exchange since 1817, in 1945, because of political changes after World War II, it couldn't be recreated. It only started operating again in April 1991, after the reintroduction of the free-market economy and democracy. It is now the biggest stock exchange in Central and Eastern Europe, with more than 130 companies listed. The main indexes of its performance are WIG and WIG20.

Related Topics:
1817 - 1945 - 1991 - WIG - WIG20

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History likes funny twists ? it's worth mentioning that from 1991 until 2000 the Warsaw Stock Exchange was situated in the building previously used as the headquarters of the Polish Communist Party (PZPR).

Related Topics:
1991 - 2000 - Warsaw Stock Exchange - Polish Communist Party

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Industry

Following the destruction of the city in World War II and its reconstruction, the communist authorities decided that Warsaw be rebuilt as a major industrial center. Several hundred major factories were build in the city or just outside of it. Most notable were the Huta Warszawa Steel Works and two car factories.

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However, as the communist economical system deteriorated, most of them lost any significance. In the years following 1989, in the course of a peaceful transformation of both political and economical system in Poland, most of these went bankrupt. Nowadays, the Lucchini-Warszawa Steel Mill (formerly Huta Warszawa) is the only major factory remaining.

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