Positive economic recovery in Amsterdam Metropolitan Area

The Amsterdam metropolitan region has survived the credit crisis in 2009 and is recovering well. The impact of the crises on the regional economy was smaller than in the rest of the Netherlands and therefore the recovery is faster and stronger, enabling a favourable economic forecast.

Even though the gross regional product (GRP) has shrunk by 3.4% in 2009 it is still slighter compared to the rest of the Netherlands, which has been affected by a contraction of 4 percent.

In 2010, the region began a positive recovery with a growth of 2.9 percent compared with a growth of 1.7 percent for the whole economy and still continue in 2011, with a  3.5 percent growth  projected for the region, according to the report of Amsterdam metropolitan region economic forecasts 2011.

One can wonder why this city has especially succeeded in facing the crisis. This can be explained by the financial and business services that are the biggest sector in Greater Amsterdam and generate roughly one-third of GRP. Despite a contraction of 1.4 percent in 2009, this sector as managed to recover reaching a growth of 4.2 percent last year and an increase of 4.5 percent is forecast for 2011.

Moreover many inhabitants living in the metropolitan region are highly educated compared to the rest of the Netherlands creating an attractive workforce, which increases the competitiveness of the Amsterdam Metropolitan Area.

Sources:

http://www.nisnews.nl/public/170211_2.htm

http://www.iamsterdam.com

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