St. Petersburg today

April 15, 2006 (Press Release) -- The 1970s and the early 1980s were a period of stability for the Soviet Union and for Leningrad. Though political freedoms were greatly limited, most of the city's population enjoyed relative prosperity. When the government initiated the reforms known worldwide as Perestroika, stability rapidly disappeared and the population began experiencing economic hardship as the government quibbled over reforms. In 1991, after a city-wide referendum, the city of Leningrad returned to its original name - St. Petersburg.
Now, just after the turn of the new millenium St. Petersburg is still in a transition period, both economically and socially. While the city's industries is still in recession, services and retail sales are gradually improving and more and more foreign businesses are being attracted to the city;s new business climate. Although, still far behind Moscow in economic terms, St. Petersburg had become a modern, rapidly growing commercial city. On the social side, St. Petersburg's younger generations are coping admirably with the economic changes, but unemployment remains high and families and pensioners struggle desperately to make ends meet.
Despite the city's disapointing loss of the bid for the 2004 Olympic Games, the people of St. Petersburg look optimistically to the future and welcome guests to the city and its booming tourist industry. St. Peteresburg is one of the most beautiful cities in Europe and we feel we have to prove it! Just take a look at our Virtual Tour, we love this city and we are convinced you'll love it too!
So, welcome to St. Petersburg - we hope you enjoy discovering its treasures and mysteries for yourself!

Source: http://www.saint-petersburg.com/