Since the onset of the Great Recession, Valencia had experienced a growing unemployment rate, increased government debt, and other issues, and severe spending cuts were introduced by the city government. However, in 2009, Valencia was designated "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.
since the onset of the great recession valencia had experienced a growing unemployment rate increased government debt and other issues and severe spending cuts were introduced by the city government however in 2009 valencia was designated "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