Taipei is the capital city of Taiwan, which is recognized as part of the Republic of China, controlled by the Communist party in Beijing. Even though it has its own elected government and multi-party system, Taiwan is essentially a province of China, and is subject to the One China policy, which means that many Western countries do not speak directly with its president or question Chinese jurisdiction over the city, even though many Taiwanese people are nationalistic and there is a growing separatist movement.
Despite the political confusion in Taiwan, it remains a bustling hub of business, enterprise and innovation. Taipei is home to between 3 and 7 million people, depending on whether you are talking about the old city, referred to as Taipei, or the entire urban sprawl, which is called New Taipei. There is no clear border between the two aside from architectural age, and much of the population is evenly spread between the old and new sections of the city.
Taipei has many different financial institutions housed in its center, so it is a very busy trade hub and its stocks are used as an international standard on the Asia Pacific market. There are also a large number of tech companies based in Taipei.
Taipei’s financial centers are regarded as some of the most stable and prosperous in the world and it is one of the only markets which did not suffer steep losses during the Great Recession from 2009-2013. In fact it acquired even more sway as a creditor when the United States and some other Western countries borrowed from Taiwan to stabilize their own economies. So, with such a stable economy, there is close to full employment and very low inflation.
All these things combine to make it a wonderful city to visit as a tourist. Prices are very stable, and the relative wealth and prosperity of the population allow for very modern infrastructure and many well-kept public parks and museums. 7 million people visit every year, which makes tourism one of the most prominent sectors of the economy. The National Palace Museum has one of the best international art collections, as well as many Chinese and Taiwanese historical artifacts. The city as a whole is very clean, thanks to a world-class recycling program and well-funded public institutions. It is a highly educated city, with almost a 100% literacy rate and over half the population have college degrees.
It’s also home to Taipei 101, one of the tallest buildings in the world, and the tallest currently in China, not to mention on Taiwan! Taipei 101 was first built as a trade center, but now it is home to many different businesses, mostly financial institutions. It claims the honor of being the tallest LEED-certified green building in the world!
The night markets are an excellent place for tourist visits, and a wide range of theatre and musical performance make the whole city a thriving source of nightlife.
You will also find many temples of historical and religious interest, which host many festivals, like the Lantern Festival and Dragon Boat Festival.
Plan your trip today!