Barcelona is known to be one of the earliest cities in Europe to initiate industrialisation. It became one of the majors in manufacturing, esp. in the textile industry, around the mid of the nineteenth century. Thus, the city has become a significant fashion centre with its traditional importance in textiles.
The free trade zone located within the port area is not far off from downtown Barcelona. Located around 5km away from the Barcelona International Airport, the port is well connected to the outside through highway and railway.
The zone is constructed in two phases, viz- the first phase covers an area of 70 hectares while the second phase covers an area of 140 hectares. It even bids a series of services where business investors lease their offices or warehouses too.
Apart from textile, the other industries contributing to Barcelona's economy are the chemical, pharmaceutical, motor, electronic, printing, logistics, publishing, telecommunications, and information technology services.
International banking, finance, and exports are also important factors that contribute to the city's economy.
Also, trade, logistic services, restaurants and catering, medical services, design, and advertising help raise the city's economic status.
Various national and international events are held every year in Barcelona that draws millions of people to the city. In this way, millions of (€) Euros automatically get diverted to Barcelona.
Some of the most prominent luxury hotels near the waterfront attract foreign currency as outsiders prefer staying at such locales. The city is one of the costliest cities in Spain with high living standards.