Copenhagen, Capital Region, Denmark

Economy | Tourist Industry

🇩🇰 Copenhagen (København) is the capital and most populous city of Denmark. The city includes Copenhagen Municipality, Frederiksberg Municipality, Tårnby Municipality, and Dragør Municipality. It forms the core of the wider urban area of Copenhagen and the Copenhagen metropolitan area. Copenhagen is situated on the eastern coast of the island of Zealand; another portion of the city is located on Amager, and it is separated from Malmö, Sweden, by the strait of Øresund. The Øresund Bridge connects the two cities by rail and road.

Originally a Viking fishing village established in the 10th century in the vicinity of what is now Gammel Strand, Copenhagen became the capital of Denmark in the early 15th century. Beginning in the 17th century, it consolidated its position as a regional centre of power with its institutions, defences, and armed forces. During the Renaissance the city served as the de facto capital of the Kalmar Union, being the seat of monarchy, governing the majority of the present day Nordic region in a personal union with Sweden and Norway ruled by the Danish monarch serving as the head of state. The city flourished as the cultural and economic centre of Scandinavia under the union for well over 120 years, starting in the 15th century up until the beginning of the 16th century when the union was dissolved with Sweden leaving the union through a rebellion. After a plague outbreak and fire in the 18th century, the city underwent a period of redevelopment. This included construction of the prestigious district of Frederiksstaden and founding of such cultural institutions as the Royal Theatre and the Royal Academy of Fine Arts. After further disasters in the early 19th century when Horatio Nelson attacked the Dano-Norwegian fleet and bombarded the city, rebuilding during the Danish Golden Age brought a Neoclassical look to Copenhagen's architecture. Later, following the Second World War, the Finger Plan fostered the development of housing and businesses along the five urban railway routes stretching out from the city centre.

Since the turn of the 21st century, Copenhagen has seen strong urban and cultural development, facilitated by investment in its institutions and infrastructure. The city is the cultural, economic and governmental centre of Denmark; it is one of the major financial centres of Northern Europe with the Copenhagen Stock Exchange. Copenhagen's economy has seen rapid developments in the service sector, especially through initiatives in information technology, pharmaceuticals and clean technology. Since the completion of the Øresund Bridge, Copenhagen has become increasingly integrated with the Swedish province of Scania and its largest city, Malmö, forming the Øresund Region. With a number of bridges connecting the various districts, the cityscape is characterised by parks, promenades, and waterfronts. Copenhagen's landmarks such as Tivoli Gardens, The Little Mermaid statue, the Amalienborg and Christiansborg palaces, Rosenborg Castle, Frederik's Church, Børsen and many museums, restaurants and nightclubs are significant tourist attractions.

Copenhagen is home to the University of Copenhagen, the Technical University of Denmark, Copenhagen Business School and the IT University of Copenhagen. The University of Copenhagen, founded in 1479, is the oldest university in Denmark. Copenhagen is home to the F.C. Copenhagen. The annual Copenhagen Marathon was established in 1980. Copenhagen is one of the most bicycle-friendly cities in the world. Movia is the public mass transit company serving all of eastern Denmark, except Bornholm. The Copenhagen Metro, launched in 2002, serves central Copenhagen. Additionally, the Copenhagen S-train, the Lokaltog (private railway), and the Coast Line network serve and connect central Copenhagen to outlying boroughs. Serving roughly 2.5 million passengers a month, Copenhagen Airport, Kastrup, is the busiest airport in the Nordic countries.

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Economy Copenhagen is the major economic and financial centre of Denmark. The city's economy is based largely on services and commerce. Statistics for 2010 show that the vast majority of the 350,000 workers in Copenhagen are employed in the service sector, especially transport and communications, trade, and finance, while less than 10,000 work in the manufacturing industries. The public sector workforce is around 110,000, including education and healthcare. From 2006 to 2011, the economy grew by 2.5% in Copenhagen, while it fell by some 4% in the rest of Denmark. In 2017, the wider Capital Region of Denmark had a gross domestic product (GDP) of €120 billion, and the 15th largest GDP per capita of regions in the European Union.

Several financial institutions and banks have headquarters in Copenhagen, including Alm. Brand, Danske Bank, Nykredit and Nordea Bank Danmark. The Copenhagen Stock Exchange (CSE) was founded in 1620 and is now owned by Nasdaq, Inc. Copenhagen is also home to a number of international companies including A.P. Møller-Mærsk, Novo Nordisk, Carlsberg and Novozymes. City authorities have encouraged the development of business clusters in several innovative sectors, which include information technology, biotechnology, pharmaceuticals, clean technology and smart city solutions.

Life science is a key sector with extensive research and development activities. Medicon Valley is a leading bi-national life sciences cluster in Europe, spanning the Øresund Region. Copenhagen is rich in companies and institutions with a focus on research and development within the field of biotechnology, and the Medicon Valley initiative aims to strengthen this position and to promote cooperation between companies and academia. Many major Danish companies like Novo Nordisk and Lundbeck, both of which are among the 50 largest pharmaceutical and biotech companies in the world, are located in this business cluster.

Shipping is another import sector with Maersk, the world's largest shipping company, having their world headquarters in Copenhagen. The city has an industrial harbour, Copenhagen Port. Following decades of stagnation, it has experienced a resurgence since 1990 following a merger with Malmö harbour. Both ports are operated by Copenhagen Malmö Port (CMP). The central location in the Øresund Region allows the ports to act as a hub for freight that is transported onward to the Baltic countries. CMP annually receives about 8,000 ships and handled some 148,000 TEU in 2012.

Copenhagen has some of the highest gross wages in the world. High taxes mean that wages are reduced after mandatory deduction. A beneficial researcher scheme with low taxation of foreign specialists has made Denmark an attractive location for foreign labour. It is however also among the most expensive cities in Europe.

Denmark's Flexicurity model features some of the most flexible hiring and firing legislation in Europe, providing attractive conditions for foreign investment and international companies looking to locate in Copenhagen. In Dansk Industri's 2013 survey of employment factors in the ninety-six municipalities of Denmark, Copenhagen came in first place for educational qualifications and for the development of private companies in recent years, but fell to 86th place in local companies' assessment of the employment climate. The survey revealed considerable dissatisfaction in the level of dialogue companies enjoyed with the municipal authorities.

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Tourist Industry Tourism is a major contributor to Copenhagen's economy, attracting visitors due to the city's harbour, cultural attractions and award-winning restaurants. Since 2009, Copenhagen has been one of the fastest growing metropolitan destinations in Europe. Hotel capacity in the city is growing significantly. From 2009 to 2013, it experienced a 42% growth in international bed nights (total number of nights spent by tourists), tallying a rise of nearly 70% for Chinese visitors. The total number of bed nights in the Capital Region surpassed 9 million in 2013, while international bed nights reached 5 million.

In 2010, it is estimated that city break tourism contributed to DKK 2 billion in turnover. However, 2010 was an exceptional year for city break tourism and turnover increased with 29% in that one year. 680,000 cruise passengers visited the port in 2015. In 2019 Copenhagen was ranked first among Lonely Planet's top ten cities to visit. In October 2021, Copenhagen was shortlisted for the European Commission's 2022 European Capital of Smart Tourism award along with Bordeaux, Dublin, Florence, Ljubljana, La Palma de Mallorca and Valencia.

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Copenhagen, Capital Region, Denmark 
<b>Copenhagen, Capital Region, Denmark</b>
Image: Adobe Stock dudlajzov #303938163

Copenhagen is rated Beta + by the Globalization and World Cities Research Network (GaWC) which evaluates and ranks the relationships between world cities in the context of globalisation. Beta level cities are cities that link moderate economic regions to the world economy.

Copenhagen is the #20 city in the world according to the Global Power City Index (GPCI) which evaluates and ranks the major cities of the world according to their magnetism, or their comprehensive power to attract people, capital, and enterprises from around the world. It does so through measuring six key functions: Economy, Research and Development, Cultural Interaction, Liveability, Environment, and Accessibility.

Copenhagen is the #34 city in the world according to the Global Financial Centres Index (GFCI) which evaluates and ranks the competitiveness of the major financial centres of the world according to a wide range of criteria – Human Capital, Business, Finance, Infrastructure and Reputation.

Copenhagen is ranked #60 and rated C+ by the Global Urban Competitiveness Report (GUCR) which evaluates and ranks world cities in the context of economic competitiveness. C+ cities are strong international gateway cities. Copenhagen was ranked #181 by the Nomad List which evaluates and ranks remote work hubs by cost, internet, fun and safety. Copenhagen has a population of over 632,340 people. Copenhagen also forms the centre of the wider Copenhagen metropolitan area which has a population of over 2,057,142 people. Copenhagen is the #81 hipster city in the world, with a hipster score of 4.7838 according to the Hipster Index which evaluates and ranks the major cities of the world according to the number of vegan eateries, coffee shops, tattoo studios, vintage boutiques, and record stores. Copenhagen is ranked #61 for startups with a score of 7.055.

To set up a UBI Lab for Copenhagen see: https://www.ubilabnetwork.org Twitter: https://twitter.com/UBILabNetwork

Twin Towns, Sister Cities Copenhagen has links with:

🇨🇳 Beijing, China 🇺🇸 Boston, USA 🇨🇳 Cheongwen, China 🇸🇪 Kista, Sweden 🇫🇷 Marseille, France 🇮🇹 Milan, Italy 🇫🇷 Paris, France 🇮🇩 Pontianak, Indonesia 🇮🇸 Reykjavík, Iceland 🇨🇳 Shunyi, China 🇸🇪 Stockholm, Sweden
Text Atribution: Wikipedia Text under CC-BY-SA license | GPCI | GFCI | GaWC | GUCR | Hipster Index | Nomad | StartupBlink

  • Arthur William Blomfield |

    🏴󠁧󠁢󠁥󠁮󠁧󠁿 Architect Arthur William Blomfield is associated with Copenhagen. In 1861 he was President of the Architectural Association and was knighted in 1889.

Antipodal to Copenhagen is: -167.432,-55.676

Locations Near: Copenhagen 12.5676,55.6757

🇩🇰 Indre By 12.58,55.68 d: 0.9  

🇩🇰 Frederiksberg 12.527,55.677 d: 2.6  

🇩🇰 Charlottenlund 12.552,55.751 d: 8.4  

🇩🇰 Gentofte 12.548,55.754 d: 8.8  

🇩🇰 Hvidovre 12.473,55.658 d: 6.3  

🇩🇰 Gladsaxe 12.472,55.745 d: 9.7  

🇩🇰 Lyngby-Taarbæk 12.5,55.783 d: 12.7  

🇩🇰 Rudersdal 12.489,55.834 d: 18.3  

🇩🇰 Hørsholm 12.5,55.867 d: 21.7  

🇩🇰 Ballerup 12.365,55.73 d: 14  

Antipodal to: Copenhagen -167.432,-55.676

🇹🇴 Nuku'alofa -175.216,-21.136 d: 16120.3  

🇦🇸 Pago Pago -170.701,-14.279 d: 15403.5  

🇼🇸 Apia -171.76,-13.833 d: 15347.5  

🇵🇫 Papeete -149.566,-17.537 d: 15513.5  

🇺🇸 Hilo -155.089,19.725 d: 11550.2  

🇺🇸 Maui -156.446,20.72 d: 11457  

🇺🇸 Maui County -156.617,20.868 d: 11442.6  

🇺🇸 Wailuku -156.505,20.894 d: 11438.5  

🇺🇸 Kahului -156.466,20.891 d: 11438.3  

🇺🇸 Honolulu -157.85,21.3 d: 11407.9  

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