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Washington DC as a World City - Case Study Example
Pages 3 (753 words)
Washington has emerged as one of the giant economies both locally and globally. Over the past few years, Washington has become one of the strongest economies in the United States. Around 16 Billion dollar worth projects have been completed the pervious year with around 8 billion projects in pipeline to be carried out in the future …
‘Economic Transformation’ would be the right term to describe the Economic conditions in Washington, considering it's past and present. The Economic trends in Washington can be best described considering the factors like population, personal income, per capita income, employment, total industry earnings and average earnings per job (pnreap.org, 2006). The population growth in Washington from 1970 to 2005 is around 1.8% which when compared with the total US population growth of 1.08% is quite high (pnreap.org, 2006). This is due to immigration to Washington due to opportunities available here. However the percentage of growth from 2000 to 2005 has been moderate, that is only 1.2% (pnreap.org, 2006). On the other hand the personal Income Growth in Washington has been 3.8% compared to the total US growth of 3% (pnreap.org, 2006). This shows the kind of Economic growth in Washington when compared to US as a whole. It also shows that a major contribution for the Economic development of the US is rendered by Washington. This continued over a period of around 30 Years in US. Per capita Income can be termed as the barometer for calibrating Economic growth. ...
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