However, the conservative Hoover Institution in California, in addition to various media organizations, have warned of a uniquely severe long-term doom spiral impending for San Francisco. Despite this commercial and corporate exodus, the Bay Area is still the home to four of the world's ten largest companies by market capitalization, and the city proper still houses the headquarters of numerous companies inside and outside of technology, including Wells Fargo, Salesforce, Uber, Airbnb, Twitter, Levi's, Gap, Dropbox, and Lyft. The city centers of both San Francisco and nearby Oakland have suffered a severe and continuing exodus of businesses, significantly accelerated by the COVID-19 pandemic. San Francisco was ranked fifth in the world and second in the United States on the Global Financial Centres Index as of March 2023. In the same year, San Francisco proper had a GDP of $236.4 billion, and a GDP per capita of $289,990. The wider San Jose–San Francisco–Oakland Combined Statistical Area is the fifth most populous, with 9.5 million residents, and the third-largest by economic output, with a GDP of $1.25 trillion in 2021. San Francisco anchors the 13th most populous metropolitan statistical area in the United States with 4.6 million residents, and the fourth-largest by aggregate income and economic output, with a GDP of $669 billion in 2021. As of 2020, the metropolitan area, with 6.7 million residents, ranked 5th by GDP ($874 billion) and 2nd by GDP per capita ($131,082) across the OECD countries, ahead of global cities like Paris, London, and Singapore.
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San Francisco and the surrounding San Francisco Bay Area are a global center of economic activity and the arts and sciences, spurred by leading universities, high-tech, healthcare, finance, insurance, real estate, and professional services sectors. After the war, the confluence of returning servicemen, significant immigration, liberalizing attitudes, the rise of the beatnik and hippie countercultures, the sexual revolution, the peace movement growing from opposition to United States involvement in the Vietnam War, and other factors led to the Summer of Love and the gay rights movement, cementing San Francisco as a center of liberal activism in the United States. In 1945, the United Nations Charter was signed in San Francisco, establishing the United Nations before permanently relocating to Manhattan, and in 1951, the Treaty of San Francisco re-established peaceful relations between Japan and the Allied Powers. In World War II, it was a major port of embarkation for naval service members shipping out to the Pacific Theater. After three-quarters of the city was destroyed by the 1906 earthquake and fire, it was quickly rebuilt, hosting the Panama-Pacific International Exposition nine years later. In 1856, San Francisco became a consolidated city-county. The California Gold Rush of 1849 brought rapid growth, transforming an unimportant hamlet into a busy port, making it the largest city on the West Coast at the time between 18, approximately one quarter of California's population resided in the city proper. San Francisco was founded on June 29, 1776, when settlers from New Spain established the Presidio of San Francisco at the Golden Gate, and the Mission San Francisco de Asís a few miles away, both named for Francis of Assisi. Colloquial nicknames for San Francisco include Frisco, San Fran, The City, and SF. cities proper with over 250,000 residents, San Francisco was ranked first by per capita income and sixth by aggregate income as of 2021. county, behind only four of the five New York City boroughs. city after New York City and the fifth-most densely populated U.S. The city covers a land area of 46.9 square miles (121 square kilometers) at the end of the San Francisco Peninsula, making it the second most densely populated large U.S. The city proper is the fourth most populous city in California, with 808,437 residents, and the 17th most populous city in the United States as of 2022. San Francisco ( / ˌ s æ n f r ə n ˈ s ɪ s k oʊ/ SAN frən- SISS-koh Spanish for ' Saint Francis'), officially the City and County of San Francisco, is the commercial, financial, and cultural center of Northern California. ^ Urban area population/density are for the San Francisco–Oakland, CA urban area as of the 2020 Census.
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