Economy
Shipbuilding and repairing, coal mining and exports, and the chemical industries declined from the latter half of the 20th Century, resulting in mass unemployment. In more recent years, however, this trend has reversed and South Tyneside attracts new industries, most notably in the service sector. There is still a considerable manufacturing base of ship-repair and offshore services, engineering, electronics, clothing, furniture, paper products, timber and small precision engineering.
At one time, Tyneside built 25% of the world's ships. South Tyneside College specialises in maritime training and attracts students from around the world.
Tourism is also an important and growing industry.
Read more about this topic: South Tyneside
Famous quotes containing the word economy:
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
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