City Profile - Philadelphia; Comprehensive overview of the city, PEST analysis and analysis of key industries including technology, tourism and hospitality, construction and retail.
City Profile - Philadelphia; Comprehensive overview of the city, PEST analysis and analysis of key industries including technology, tourism and hospitality, construction and retail.Summary
“City Profile - Philadelphia” provides historical and forecast data on key city level metrics along with analytical coverage of the latest political, economic, social, technological, infrastructural, legal and environmental issues affecting Philadelphia.
The report contains detailed tourism, retail, construction, technology and public infrastructure data and insight into economic, social, and industry trends.
Philadelphia is situated in Pennsylvania State in the US. It has a significant economic and financial influence. The service sector is the backbone of the region, contributing 85.9% of GVA and employing 89.7% of the workforce in 2024. Growth eased to 1.9% in 2024 amid the national slowdown driven by persistent inflation and tighter monetary policy, pressures also felt by local firms and households. Major external tailwinds include infrastructure workforce funding and large announced AI-and-energy investments in Pennsylvania aimed at expanding power supply and data/AI capacity, potentially supporting job creation and regional competitiveness.
Scope
- The service sector remains the key contributor to the regional economy and the major employer.
- The visitor economy is strengthening, with Greater Philadelphia welcoming 43.9 million visitors in 2024, and the city recorded 26.6 million visitors with record visitor spending of $4.5 billion, generating a $7.0 billion economic impact and $417 million in tax revenue, supported by a steady convention/events pipeline and improved air connectivity. International demand rebounded with added transatlantic service.
- Construction output in the Philadelphia metro rose 7.3% in 2024 to $22.0 billion, supported by strengthening private investment and public infrastructure commitments
Reasons to Buy
- Gain a comprehensive knowledge of future economic and demographic trends and understand the performance of various sectors within the city.
- Analyze and understand the business environment in the city to align your investment and expansion strategies.
- The report helps to drive a conclusion in choosing a suitable city to invest or expand according to your business structure.
- Explore new opportunities in the hospitality, tourism, construction, real estate and retail sectors.
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