California: Economic power exceeds Austria for 7.5 times!

California: Economic power exceeds Austria for 7.5 times!

California is one of the largest economies in the world and has impressive economic output. In 2024, the state's gross domestic product (GDP) was around $ 4.1 trillion, which is about 15% of the total GDP of the United States. California is at the top of the 50 US states, followed by Texas with $ 2.7 trillion and New York with $ 2.3 trillion. These figures make it clear that California is economically larger than many European countries, including Austria, the GDP 2024 of which was around 0.48 trillion euros, which is 7.5 times the more California GDP, as vienna.at reported.

Silicon Valley as an innovation center

Silicon Valley is globally recognized as a technological innovation region. About three million people live here, and the region extends from the south of San Francisco to the north of San Joses. Silicon Valley has developed into a magnet for technology companies in recent years. Companies such as Google, Apple and Facebook have their headquarters here, which makes the region a central location for technological developments. In 2022 alone, 13.2% of all patents registered in the United States were registered in the Silicon Valley, which reflects the innovative strength of the region, such as Cooperation-international.de

The workers in Silicon Valley are highly qualified, with 53% of the population who have at least one bachelor's degree. The largest ethnic group in the region are people of Asian descent who make up 37% of the population. The region also has an excellent university landscape, which is characterized by institutions such as Stanford University and the University of California, Berkeley. It is therefore not surprising that Silicon Valley can be found regularly among the best in the world in various rankings.

diversity of the Californian economy

The economy of California is not only limited to technology. The key sectors also include agriculture, the entertainment industry, tourism and international trade. California produces a significant part of the US food, including the important wine industry in Napa Valley. In addition, with its attractions such as Disneyland and the national parks, California attracts millions of tourists, which contributes to a stable tourism sector. This diversity makes California one of the most dynamic and adaptable economies in the world, as described by the pltwcalifornia.org

The strategic situation of California on the west coast also supports international trade considerably. The ports of Los Angeles and Long Beach are among the most busy in the world and are essential nodes for import and export.

Overall, the development of California shows how innovative and multifaceted a modern economy can be. With a stable population structure, a strong base of innovation and a variety of sectors, the state will continue to play an outstanding role at both national and global level.