Arizona is one of the states that is rapidly growing economically due to its diverse industrial base and steady population increase.

The population of Arizona was approximately 7.15 million as of 2020, making it the 14th most populous state in the United States.

The service industry, manufacturing, and tourism are the main economic activities, and the technology sector is also on the rise.

Economic Scale

  • GDP: Approximately $400 billion (as of 2025). This places it among the top 20 states in the U.S.
  • Per Capita Income: $58,442 as of 2022, ranking 34th in the U.S.
  • Economic Growth Rate: It has shown an average annual growth of over 3% in recent years, exceeding the national average.

Median Income

  • Household Median Income: Approximately $65,000, which is slightly lower than the national average (around $74,000).

Main Economic Industries

Tourism

  • Scale: Generates billions of dollars in economic impact annually.
  • Main Attractions: Grand Canyon, Sedona, Antelope Canyon, etc.
  • Job Creation: Supports hundreds of thousands of jobs, providing employment in hotels, restaurants, and travel services.

Technology & Manufacturing

  • Semi-conductor and Electronics Manufacturing:
    • Arizona is emerging as a semiconductor manufacturing hub due to investments from global companies like TSMC (Taiwan Semiconductor Manufacturing Company) and Intel.
    • The Phoenix area is concentrated with facilities related to electronic components and advanced technology.
  • Aerospace and Defense Industry:
    • Major defense companies such as Honeywell Aerospace and Raytheon are located here.

Agriculture & Mining

  • Agriculture:
    • Main crops include cotton, alfalfa, nuts, and vegetables.
    • Arizona plays a significant role as a winter vegetable supplier across the United States.
  • Mining:
    • Copper production is prominent, and Arizona is the largest copper producer in the U.S.
    • Mineral resources such as gold, silver, and molybdenum also contribute to the economy.

Outlook

Arizona is expected to continue its growth due to stable population increases and business-friendly policies.

In particular, the growth of the technology industry and tourism is expected to be the key driving force of the state's economy.