Valencia grew up as a farming and trading city on the river Turia, with a silk exchange that is now a World Heritage site and a medieval irrigation court that still meets on Thursdays at the cathedral door. After a deadly flood in 1957 the river was diverted south of the city, and the old riverbed was turned into a long park, which now runs through the whole city like a green spine. This was a defining decision: it gave the city its space, its cyclists and its joggers.
The port is central to the economy, and logistics, services, tourism, design and a growing technology sector make up the rest, along with a large car plant outside the city. The city comes out below average on jobs. Unemployment is 10.9% (2025), household income per person is €16,944 a year (2024), and adults with a university degree make up 55% (2024).
Housing is where the popularity shows. The city comes out weak on housing. A typical 70 m² flat rents for about €573 a month (2024), and buying costs €2,973 per square metre (Q2 2026). Rents grew by 5.9% in a year (2024).
Tourist flats are part of the local debate about housing. Valencia has capped tourist accommodation neighbourhood by neighbourhood; new tourist places are blocked once a limit is reached.
The city is flat and has many cycle lanes, with a metro and tram network and a large bus system. The average commute is 42 min (2021), and public transport carries 22% of commuters (2021). Recorded crime is 75.3 per 1,000 people (2024), and safety comes out weak against similar places. Thefts without violence stand at 2,811 per 100k people (2025).
In October 2024 floods devastated towns just south and west of Valencia and touched some districts on the southern edge of the city. The event changed local debate about building near ravines and about emergency warnings.