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After suffering from the effects of plague and fire in the 18th century, the city underwent a period of redevelopment.
This included construction of the prestigious district of Frederiksstaden and founding of such cultural institutions as the Royal Theatre and the Royal Academy of Fine Arts.
Since the turn of the 21st century, Copenhagen has seen strong urban and cultural development, facilitated by investment in its institutions and infrastructure.
The city is the cultural, economic and governmental centre of Denmark; it is one of the major financial centres of Northern Europe with the Copenhagen Stock Exchange.
Copenhagen's economy has seen rapid developments in the service sector, especially through initiatives in information technology, pharmaceuticals and clean technology.