Boston is the capital and the largest city in Massachusetts. Also, it is one the oldest cities in the United States. Boston is often referred to the unofficial “Capital of New England.” In 2008, the city of Boston had a population of about 620,000, which makes it the 21st largest city in the U.S. The economy of Boston is focused on research, finance, engineering, electronics, and high technology (primarily biotechnology). The city has been and still remains high on world livability rankings, even though Boston has one of the highest costs of living in the United States.
A major impact on Boston’s economy comes from the surrounding colleges and universities. The students attending these schools contribute about $5 billion to the city’s economy every year. Many of the jobs in Boston come from these schools. The colleges and universities also attract many high-tech companies and industries to Boston, making many Boston careers available. In 2006, Boston had over 190,000 jobs in the high-tech industry.
Since the city has many American, historical values, tourism also plays a big part in Boston’s economy. In 2004, tourists contributed and estimated $7.9 billion to Boston’s economy, making Boston of the 10 most popular cities in the entire United States.