Neuer Wall runs parallel to the Alsterfleet canal and is known as the most expensive shopping street in Hamburg, which is itself considered one of the most affluent cities in Europe. Hamburg is expanding rapidly and particularly attracting many multimedia companies, including publishing houses, advertising and web agencies and IT businesses. It is a major transportation hub with connections to four motorways and the main rail routes to Scandinavia. Because of the harbor Hamburg is a major traffic junction, that's the reason for it's nickname "Door to the World".