Copenhagen is not only the economic and financial centre of Denmark but is a major business centre for the entire Scandinavian-Baltic region. Statistics show that of the 350,000 people working in Copenhagen, the vast majority are employed in the service sector, especially transport and communications, trade, and finance, while less than 10,000 work in the manufacturing industries. The public sector workforce is around 110,000, including education and healthcare. Copenhagen was third in the ranking of the richest cities in the world in terms of gross earnings. Copenhagen is home to a number of international companies including A.P. Møller-Mærsk, Novo Nordisk, Carlsberg and Novozymes. The city also has successful business clusters in several innovative sectors including information technology, biotechnology, pharmaceuticals and clean technology. Copenhagen has a service oriented economy. Life science is a key sector with extensive research and development activities. In collaboration with Sweden, Medicon Valley is being developed as a central sector of interest across the entire Øresund Region. Major Danish biotech companies like Novo Nordisk and Lundbeck, both of which are among the 50 largest pharmaceutical and biotech companies in the world, are located in the greater Copenhagen area. Shipping is also an import sector with Maersk, the world’s largest shipping company, having their world headquarters in Copenhagen.