economy in Italy, after Milan, Rome and Turin. It is the world's 103rd-richest city by purchasing power, with an estimated 2008 GDP of $51 billion, surpassing the economies of Prague and Copenhagen. The port of Naples is one of the most important in Europe, and has the world's second-highest level of passenger flow, after the port of Hong Kong. The city has experienced significant economic growth in recent decades, and unemployment levels in the city and surrounding Campania have decreased since 1999. However, Naples is still characterized by political and economic corruption and a thriving black market, and unemployment levels remain very high.
Numerous major Italian companies, such as MSC Cruises Italy S.p.A, are headquartered in Naples. The city hosts NATO's Allied Joint Force Command Naples, the SRM Institution for Economic Research and the OPE Company and Study Centre. Naples is a full member of the Eurocities network of European cities. The city was selected to become the headquarters of the European institution Acp/Ue and as a City of Literature by UNESCO's Creative Cities Network. The Villa Rosebery, one of three official residences of the President of Italy, can be found in the city's Posillipo district.
Naples was the most-bombed Italian city during World War II. Much of the city's 20th-century periphery was constructed under Benito Mussolini's fascist government, and during reconstruction efforts after World War II. In recent decades, Naples has constructed a large business district, the Centro Direzionale, and has developed an advanced transport infrastructure, including an Alta Velocità high-speed rail link to Rome, and an expanded subway network, which is planned to eventually cover half of the region.
Culinarily, the city is synonymous with pizza, which originated in the city. Neapolitan music has furthermore been highly influential, credited with the invention of the romantic guitar and the mandolin, as well as notable