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An Overview of New York City's Economy

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New York City

New York City is a city geographically located on coordinates 40°40.2’N and 73°56.4’W. It is considered as metropolitan city occupying over 304 square miles with a population of over 8 million inhabitants where the majority are immigrants from different parts of the US and across the globe. It has five main regions: Brook, Bronx, Staten Islands, Queens and Manhattan. The city holds financial hub of the US as the nation’s Wall Street, stock market, headquarters of the United Nations and world trade center. Its climate ranges from humid subtropical to humid continental with characteristics of hot climate during summer (41° C) and low temperatures during winter (-23° C). The city is governed through city council headed by a mayor.

There are different modes of transport to enable inhabitants and visitors connect to various destinations. Road is the most commonly used method, and it is well tarmacked connecting different parts of the city using personal/private vehicles, public transport, public-private through taxis as well as cycling and walking for shorter distances. Air transport is used through various airports like John F. Kennedy International Airport especially for people arriving or traveling far distances within a short time. Railway transport is available on the surface for movement of passengers, but there are specific hours and routes operated by the train. Additionally, there are unique subway/underground transport systems through the railway system which eases congestion/traffic from overreliance on the surface transportation method. Water transport is also provided through ferries.

International flavors for different cuisine are available in New York due to its nature for hosting millions of visitors annually from around the world. Owing to this, varieties of foods and snacks are served although the internationally known ones include kebabs, pizza, hot dogs, humbuggers and cheesecakes among others. Different restaurants and coffee houses with specific cuisine associated with different regions of the world are served depending on the customer’s preference. The city is rich in cultural diversity preserved in visual arts through museums where visitors get to view varieties of art collection displays from around the world. Art is also performed through the available theatres for promoting talented actors and mentoring upcoming actors. Furthermore, various cultural organizations are focused in different cultural activities which may involve creation of galleries or other forms of literature having specific messages for the targeted audience which also partly forms domestic and international tourist attraction.

Media through TV production, newspapers for news, entertainment and advertisements are available. Examples of the most notable companies are Thomson Reuters Corporation, The New York Times and NBCUniversal. Moreover, there are independent film firms like Warner Bros among other entertainment companies. The buildings are varied in significant aspects; for example, there are moderate housing structures with no unique designs. On the other hand, other buildings are tall city scrapers with height of over100 storied house. Some of the modern buildings have been established through unique architectural designs that make them attractive and outstanding. The nature of activities within New York is diversified characterized economic activity of normal business operations/trade and religions practices having diversities of faith depending on followers’ beliefs. City residents and visitors enjoy wide range of social activities like playing sports in football, volleyball, golf, racing and general activities that bring people together like partying and clubbing.

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An Overview of New York City’s Economy. (2018, October 26). GradesFixer. Retrieved September 28, 2022, from
“An Overview of New York City’s Economy.” GradesFixer, 26 Oct. 2018,
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