District of Columbia, also known as Washington D.C., is the capital of the United States. With a population of 658,893, District of Columbia is the 23rd populous city of USA. The Washington state is the 13th most populous state with a population of 7,061,530. The name District of Columbia was given after the famous Christopher Columbus and the other one Washington D.C. was given in honor of USA’s first ever President George Washington.
District of Columbia is known as an education node as there are lots of colleges and universities within the state. The most famous institutes are Georgetown University, Howard University and American University. In 2009, same sex marriage bill was passed by the Council of District of Columbia and it was the first state that legalized same sex marriage.
The GSP of District of Columbia was $103.3 billion according to a local US survey in 2010 and would rank the district 34th in the top 50 US states. In 2010 the GSP of the District of Columbia Metropolitan area was $425 billion which would make it 4th largest Metropolitan economic state in USA. Metropolitan area of Washington had an unemployment rate of 6.2% and overall unemployment rate of D.C. was 9.8% during June 2011.
Tourism and the federal government are the key factors in the developed and stable economy of the state. In 2012, approximately 18.9 million visitors contributed almost $4.8 billion in the economy of Washington. Federal Government was responsible for almost 29% of the jobs in the district back in 2012.
International embassies and organizations such as IMF, Inter American Bank and Organization of American States are the major reason for the better economy. The economy of the District is increasing rapidly as the industries related to education, scientific research; public policy and finance are becoming the back bone of Washington’s economy. District of Columbia headquarters at least 4 of the 500 largest companies in the country.