User:Afackrell/sandbox3

Economy

Helsinki generates approximately one third of Finland's GDP and per capita is roughly 1.3 times larger than the national average. The largest industries in Finland as a whole are agriculture, forestry and fishing, construction, and wholesale and retail trade. Along with other large European cities, Helsinki is dominated by the service sector, employing about 79% of the city's workforce. Due to its size and economy, it is the only area in Finland to be considered metropolis. Though compared to other urban areas in Europe it is a relatively small one considering its population size. Helsinki is known for its innovations in technology and fostering of economic competitiveness.

83 of the 100 largest Finnish companies have their headquarters stationed in Helsinki. Two-thirds of the 200 highest-paid Finnish executives live in Greater Helsinki and 42% in Helsinki. The average income of the top 50 earners was 1.65 million euros. The unemployment rate in Helsinki closely resembles the nation's average, the former at 7.1% and Finland at 7.4%. A study done in April 2019 comparing the previous year, shows an increase in employed persons of 28,000, leaving the total unemployed in Finland at 220,000. When viewing unemployment averages in the European Union, Finland averages, possibly on the higher side. It also has the largest of its Nordic neighbors.

Notable companies headquartered in the Finnish capital are Stora Enso, the largest paper manufacturer in the world, and Wärtsilä, manufacturer of power sources and marine equipment. Nokia, the telephone company, and Neste Oil are also located right outside the city in Espoo. The city features the Helsinki Stock Exchange, established in 2003 and member of the Nasdaq Nordic. Nokia, opened in 1865, became Finland’s first major global corporation and progressed it as a technology based country. By 2000, 4% of the Finnish GDP was produced by Nokia and 21% of the country's total exports. It also made up 70 per cent of Helsinki's stock exchange market capital. Headquarters are located in the Greater Helsinki area of Espoo. Nokia is a public limited-liability company listed on the Helsinki and New York Stock Exchange. It is also the oldest remaining company listed on the Helsinki Stock Exchange, since 1915.

About 17 km north of Helsinki's center is the city of Vantaa which hosts the Helsinki International Airport. 90% of Finland's international air traffic passes through this airport with a total of 8,162,516 passengers in 2018. In 2009 and 18 km tunnel began development to connect the airport with the city center with traffic on the route started in 2014. Decreasing the trip to thirty minutes underground has hopes to limit street traffic as well as promote the EU's climate policy objectives. About 1,500 companies operate out of the Helsinki Airport with companies such as Finnair, Blue1, and Norwegian airlines based there.

Finland joined the EU in 1995 and the European Economic and Monetary Union in 1999. The metropolitan area's gross value added per capita is 200% of the mean of 27 European metropolitan areas, equalling those of Stockholm and Paris. The gross value added annual growth has been around 4%. A large part of Helsinki's budget goes towards transportation in the city. Annually the government spends about 350 million euros on the railway system; with urban trips within Greater Helsinki taking up about 80%. A high speed railway line has also been proposed between Helsinki, Turku, and Tampere. In February of this year, the Minister of Transport and Communications assigned a state-owned company to oversee developments. The company will distribute 30 million euro across the three separate project sites. The Helsinki to Turku train is expected to bring in 1.6 million travelers a year while the Tampere has an estimated 6.5 million added.