Lisbon is recognised as a alpha-level global city by the Globalization and World Cities (GaWC) Study Group because of its importance in finance, commerce, media, entertainment, arts, international trade, education and tourism. Lisbon is the only Portuguese city besides Porto to be recognised as a global city. It is one of the major economic centres on the continent, with a growing financial sector and one of the largest container ports on Europe's Atlantic coast. The city occupies 32nd place of highest gross earnings in the world. Most of the headquarters of multinationals in the country are located in the Lisbon area. It is also the political centre of the country, as its seat of Government and residence of the Head of State.