Dresden has a long history as the capital and royal residence for the Electors and Kings of Saxony, who for centuries furnished the city with cultural and artistic splendour. The city was completely destroyed by the controversial Allied aerial bombing towards the end of World War II. The impact of the bombing and 40 years of urban development during the East German socialist era have considerably changed the face of the city. Some restoration work has helped to reconstruct parts of the historic inner city, including the Katholische Hofkirche, the Semperoper and the Dresdner Frauenkirche. The Elbe Valley of Dresden was an internationally recognised site of cultural significance by the UNESCO World Heritage Committee for five years.
Three major sectors dominate Dresden's economy:
The semiconductor industry was built up in 1969. The pharmaceutical sector came up at the end of the 19th century. A third (traditional) branch is that of mechanical and electrical engineering. Tourism is another sector of the economy enjoying high revenue and many employees. There are 87 hotels in Dresden, a noted site for heritage tourism.