4 Economy
About 8.5 million Muskovites are in working age, the unemployment rate is negligibly low. According to official statistics, the average wage is 820 EUR per month (2007); due to shadow economy the real amount is to be deemed 30 - 100 % higher.
Approximately four-fifth of the nation's financial potential are concentrated in Moscow, two thirds of foreign investments focus on the city, a quarter of national budget is contributed by the capital. 1,200 banks are established in the city, more than 60 insurances, dozens of (stock) exchanges. Important industrial branches are chemical / petrochemical, metallurgy, machinery, military technology, food and textile.
Noteworthy, Moscow has become the most expensive city for expats worldwide (Merger's surveys, 2006 and 2007). (2)
New residential high-rise building, completed in 2007 (photographed in March 2007)
Moscow's road pattern is based on major radial routes which intersect with several primary ring roads. The system is centered roughly around the city core and the Kremlin, respectively. Contrary to its name, the innermost ring, Boulevard Ring (Bulvarnoye Koltso), is not a complete ring. The second ring is called Garden Ring (Sadovoye Koltso). Completed in 2003, the Third Transport Ring was laid out as a high-speed freeway. A new Fourth Transport Ring is under construction. The impressive Moscow Automobile Ring Road (MKAD) represents the outermost circular road. It is about 110 km long.
MKAD at dawn (shot in March 2007)
Local public transport is based on an excellent subway system (Moscow Metro) which has been steadily extended since 1935. Today, it is more than 278 km long; there are 172 stations. Moscow Metro is one of the busiest worldwide, serving more than 8.2 million passengers per weekday.
Moscow is the nation's primary railroad hub; nine rail terminals are located within the city limits.
Five primary commercial airports are serving the city: Sheremetjevo 1 + 2 (Russia's No 1 international airport), Domodedovo (international + No 1 domestic hub), Nvukovo (predominantly domestic flights), Bykovo (domestic flights only) and Ostafjevo (no scheduled flights yet).
Footnote
(2) According to the more recent survey living in Moscow is about 34 % more expensive than in New York.