he economy of Philadelphia encompasses the city of Philadelphia, the center of economic activity in both Pennsylvania and the four-state Delaware Valley metropolitan region of the United States. Philadelphia's close geographical and transportation connections to other large metropolitan economies along the East Coast of the United States have been cited as offering a significant competitive advantage for business creation and entrepreneurship. Five Fortune 500 companies are headquartered in the city. As of 2023, the Philadelphia metropolitan area was estimated to produce a gross metropolitan product (GMP) of US$557.6 billion, representing the eleventh-largest U.S. metropolitan economy. Philadelphia was rated by the GaWC as a 'Beta' city in its 2016 ranking of world cities. Philadelphia has shifted to an information technology and service-based economy. Philadelphia and the Delaware Valley are a biotechnology hub. As of 2025, metropolitan Philadelphia had entered the ranks of the top five U.S. venture capital centers, facilitated by its proximity to New York City and its entrepreneurial and financial ecosystems. Metropolitan Philadelphia ranks as one of the nation's Big Five venture capital hubs, facilitated by its proximity to both the financial ecosystems of New York City and the regulatory environment of Washington, D.C. Philadelphia is also a biotechnology hub and has garnered the nickname "Cellicon Valley" for its central role in the development of immunotherapies to treat different cancers. Financial activities account for the largest sector of the metro economy, and it is one of the largest health education and research centers in the United States. The city is also home to the Philadelphia Stock Exchange, owned by Nasdaq. Philadelphia's history attracts many tourists, with the Liberty Bell receiving over 2 million visitors in 2010.