VANCOUVER - British Columbia: Including the Alaska Highway - page 38

came Canada's transportation gateway to the Orient and an important player in the devel-
opment of international commerce around the Pacific Rim. Additionally, the opening of the
Panama Canal in 1915 created the perfect outlet for transporting the province's abundant
renewable resources to North America's east coast and Europe, resulting in further devel-
opment of the port facilities and a population boom. Granville Island and the far reaches
of Burrard Inlet sprawled with industry, the West End developed as a residential area, the
University of British Columbia grew in stature, and the opening of the Lions Gate Bridge
encouraged settlement on the north side of Burrard Inlet.
Recent Times
From what began just 120 years ago as a cluster of ramshackle buildings centered around
a saloon, Vancouver has blossomed into one of the world's greatest cities. While the city
holds onto the largest port on North America's West Coast, boasting 20 specialized termin-
als that handle more tonnage than any other port in Canada, it is now a lot less reliant on
its traditional economic heart for its growth. Even after the technology bust, the high-tech
industry continues as the fastest-growing sector of Vancouver's economy. Worth $5 billion
in 2010, this knowledge-based industry has both revitalized the local economy and created
a major shift in government thinking. Tourism contributes over $6 billion annually to the
local economy, with finance, real estate, insurance, and manufacturing also forming large
slices of the local economic pie. Vancouver is also North America's second-largest movie-
making center. Worth $1 billion annually to the city, this exciting industry employs up to
50,000 people on as many as 30 simultaneous productions.