Economy of Cardiff

construction of a 25-mile (40 km) long canal from Merthyr (510 feet above sea-level) to the Taff Estuary at Cardiff. Eventually the Taff Vale Railway replaced the canal barges and massive marshalling yards sprang up as new docks were developed in Cardiff – all prompted by the soaring worldwide demand for coal from the South Wales valleys.

At its peak, Cardiff's port area, known as Tiger Bay, became the busiest port in the world and—for some time—the world's most important coal port. In the years leading up to the First World War, more than 10 million tonnes of coal was exported annually from Cardiff Docks. In 1907, Cardiff's Coal Exchange was the first host to a business deal for a million pounds Sterling. After a period of decline, Cardiff's port has started to grow again – over 3 million tonnes of cargo passed through the docks in 2007.

Today, Cardiff is the principal finance and business services centre in Wales, and as such there is a strong representation of finance and business services in the local economy. This sector, combined with the Public Administration, Education and Health sectors, have accounted for around 75% of Cardiff's economic growth since 1991. The city was recently placed seventh overall in the top 50 European cities in the fDI 2008 Cities of the Future list published by the fDi magazine, and also ranked seventh in terms of attracting foreign investment. Notable companies such as Legal & General, Admiral Insurance, HBOS, Zurich, ING Direct, The AA, Principality Building Society, 118118, British Gas, Brains, SWALEC Energy and BT, all operate large national or regional headquarters and contact centres in the city, some of them based in Cardiff's office towers such as Capital Tower and Brunel House. Other major employers include NHS Wales and the National Assembly for Wales. On 1 March 2004, Cardiff was granted Fairtrade City status.

Cardiff is one of the most