Bologna is the capital city of the Emilia-Romagna region and was first established as a Roman colony. Its rich natural resources and good climate have turned the city into an important economic hub throughout history. Nowadays, it has a total population of 400 thousand residents and delivers one of the biggest GDPs in the country. The industry sector in Bologna is deeply rooted in its economy. The city is mostly famous for its automotive industry and numerous car manufacturing plants. Ferrari, Maserati, Ducati and Lamborghini stand at the top of this branch with large factories situated on the outskirts of the city. But the sector is also rich in textile, footwear and chemical factories that are linked with local natural resources and therefore stayed in the region since ancient times. The service sector plays a relatively minor role in the local economy. The majority of businesses in the service sphere work in private financial consulting and banking. The branch also continuously receives startups working in various fields, often formed by recent local graduates. Recent European trends suggest that economically successful regions are moving away from the industrial-based economy. Nevertheless, Bologna is the number one city in Italy in terms of the economic growth rate. Thanks to efficient management and local policies, Bologna has one of the richest economies and boasts one of the best quality of life in Italy.