Valencia

Valencia is the capital of the autonomous community of Valencia and the third largest city in Spain after Madrid and Barcelona, with around 800,000 inhabitants in the administrative centre. Its urban area extends beyond the administrative city limits with a population of around 1.5 million people. Valencia is Spain's third largest metropolitan area, with a population ranging from 1.7 to 2.5 million. The city has global city status. The Port of Valencia is the 5th busiest container port in Europe and the busiest container port on the Mediterranean Sea.

Valencia was founded as a Roman colony in 138 BC. The city is situated on the banks of the Turia, on the east coast of the Iberian Peninsula, fronting the Gulf of Valencia on the Mediterranean Sea. Its historic centre is one of the largest in Spain, with approximately 169 hectares; this heritage of ancient monuments, views and cultural attractions makes Valencia one of the country's most popular tourist destinations. Major monuments include Valencia Cathedral, the Torres de Serrans, the Torres de Quart, the Llotja de la Seda (declared a World Heritage Site by UNESCO in 1996), and the Ciutat de les Arts i les Ciències (City of Arts and Sciences), an entertainment-based cultural and architectural complex designed by Santiago Calatrava and Félix Candela. The Museu de Belles Arts de València houses a large collection of paintings from the 14th to the 18th centuries, including works by Velázquez, El Greco, and Goya, as well as an important series of engravings by Piranesi. The Institut Valencià d'Art Modern (Valencian Institute of Modern Art) houses both permanent collections and temporary exhibitions of contemporary art and photography.

Valencia is integrated into an industrial area on the Costa del Azahar (Orange Blossom Coast). Valencia's main festival is the Falles. The traditional Spanish dish, paella, originated in Valencia.

The original Latin name of the city was Valentia meaning "strength", or "valour", the city being named according to the Roman practice of recognizing the valour of former Roman soldiers after a war. The Roman historian Livy explains that the founding of Valentia in the 2nd century BC was due to the settling of the Roman soldiers who fought against an Iberian rebel, Viriatus.

During the rule of the Muslim kingdoms in Spain, it had the nickname Medina bu-Tarab ('City of Joy') according to a transliteration, or Medina at-Turab (مدينة التراب‎, 'City of Sands') according to another, since it was located on the banks of the River Turia. It is not clear if the term Balansiyya (بلنسية‎) was reserved for the entire Taifa of Valencia or also designated the city.

By gradual sound changes, Valentia /waˈlentia/ has become Valencia [baˈlenθja] (i.e. before a pausa or nasal sound) (after a continuant) in Castilian and València in Valencian. In Valencian, the grave accent <è> /ɛ/ contrasts with the acute accent <é> /e/—but the word València is an exception to this rule. It is spelled according to Catalan etymology, though its pronunciation is closer to Vulgar Latin.

Valencia stands on the banks of the Turia River, located on the eastern coast of the Iberian Peninsula and the western part of the Mediterranean Sea, fronting the Gulf of Valencia. At its founding by the Romans, it stood on a river island in the Turia, 6.4 km (4 mi) from the sea. The Albufera, a freshwater lagoon and estuary about 11 km (7 mi) south of the city, is one of the largest lakes in Spain. The City Council bought the lake from the Crown of Spain for 1,072,980 pesetas in 1911,[9] and today it forms the main portion of the Parc Natural de l'Albufera (Albufera Nature Reserve), with a surface area of 21,120 hectares (52,200 acres). In 1986, because of its cultural, historical, and ecological value, the Generalitat Valenciana declared it a natural park.

Valencia enjoyed strong economic growth over the last decade, much of it spurred by tourism and the construction industry, with concurrent development and expansion of telecommunications and transport. The city's economy is service-oriented, as nearly 84% of the working population is employed in service sector occupations . However, the city still maintains an important industrial base, with 5.5% of the population employed in this sector. Agricultural activities are still carried on in the municipality, even though of relatively minor importance with only 1.9% of the working population and 3973 hectares planted mostly in orchards and citrus groves.

Since the onset of the crisis (2008), Valencia has been among the Spanish regions most affected by it and has not been able to slow down a growing unemployment rate, growing government debt, etc. Severe spending cuts have been introduced by the city authorities.

In 2009, Valencia was the 29th fastest improving European city. Its influence in commerce, education, entertainment, media, fashion, science and the arts contributes to its status as one of the world's "Gamma"-rank global cities.

The large factory of Ford Motor Company lies in a suburb of the city, Almussafes.