The last ten years or so have brought about a huge transformation to the Gdansk economy. The city's industrial framework continues to include some of the traditional sectors, e.g. the shipping, petrochemical, chemical, and food industries. However, the share taken by electronics, telecommunications, IT technology, cosmetics and pharmaceuticals is increasing. The amber processing trade also plays a significant role and Gdansk cultivates its centuries-long tradition in the field. Its nickname of the world capital of amber is well earned. Just as in olden days, the city owes much to its sea port. The harbour, largest along the Polish coast and in the entire Southern Baltic basin, continues to develop.
Gdansk is strategically located at the crossing of major transit routes and functions as a large transport and cargo handling nucleus. It offers well-developed business infrastructure, rich research facilities, technical and advisory support, and highly educated personnel. All these factors place Gdansk among the top-ranking Polish cities in terms of investment attractiveness. The city owns extensive land available for investments and sites designated for development, including buildings of historic status. The envisaged future of Gdansk is directed to such ventures as, for instance, the bold project of creating a multi-functional downtown area to span 3 Maja Street and bind two separate cities into a single structure, reconstructing the 17th century Elizabethan theatre, or revitalising the 19th century Lower City residential district. Ultimately, the city looks forward to investing in the project of erecting the New City on the post-industrial estate reclaimed from the Gdansk Shipyard.