Houston Economy


Houston Economy

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As we look at the economic situations of Houston than there are many sectors in Huston that are widely contributing towards the improvement and success stand of the Houston. In all such sectors, we have the energy industry, oil, natural gas, biomedical research areas and aeronautics. The cargo and shipping division is also counted among the main sections for carrying out the economy in a best possible way therefore Houston is known as the main global city because of its good economic conditions. Much of the success of economy that has been witnessed in the Houston is due to the Port of Houston. This port has been counted as the top ports in United States and tenth largest shipping port in the whole world. In the gas and oiling industries, the high rate of the oil appears to beprofitable for the Houston because it is immensely utilized in the energy sectors. Through the Houston Sugar Land, Houston earns the GDP of $385 billion in 2010 and it was much higher than Austria, South Africa and Argentina.

Last year, the price of GDP was much higher by Houston and this city left back 21 main countries GDP in the whole world. In the mining section of oil and gas, Houston take account of maximum 26.3% GDP each year but as the oil and gas prices have been gone up to the sky limits then the production of mining in Houston has also decreased. Additionally, each year almost $1.1 billion of funds are donated in the Houston economy by University of Houston System. In return almost 2,400 graduates are awarded with the local jobs for making their future bright. According to the survey undertaken by the Forbes Magazine in 2006, Houston was honored for being the top one metropolitan city in United States and third biggest city in the whole world that is offering best and top excellent business and job opportunities. Houston Government has arranged almost 92 consultation centers for the nation related to the job search and business settlement.

Furthermore, currently there are 13 banks that are working in Houston and hence help out other international societies in view of the financial crisis. In 2008, Houston was ranked as the excellent and top class cities of United States in view of the economy height, employment conditions and quality lifestyle as well. In the technology section, this city has even made a huge progress that turned this city as the fifteenth largest technological cities in the whole world. Houston has been even termed as the second biggest cities of colleges and educational centers. In addition to it, this city has been even noted as the top first cities of United States in view of the markets and shopping centres. On the whole, after the detail discussion, we can figure out the conclusion that it is just because of the combined efforts of all the sectors that make the economy of Houston as the most successful in the whole world.

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