This district forms the city centre, with restaurants, pubs, many pedestrianised zones, the new Eurovea shopping centre and an attractive riverside promenade. Many of Slovakia's large businesses and financial institutions are headquartered in Bratislava. There is a major German automotive industry presence, and in recent years, global service and hi-tech businesses have blossomed, including major players in IT, telecoms and financial services. They have been attracted by the skilled labour force, the concentration of universities and research facilities and the proximity to Western Europe.