Houston's economic ups and downs over the last quarter century echo the rise and fall of the city since its founding in 1836. Originally a tiny trading post, Houston came to flourish as a cotton and cattle capital — and as state capital (twice!) — before hitting a slump after statehood.

Houston's fortunes changed with the railroad's arrival in the late 1880s, the 1900 hurricane that disrupted Galveston shipping and banking and, just a year later, the discovery of oil at Spindletop. The ensuing economic windfall breathed new vitality into a town that would soon become a leading port and hub for oil refining, shipbuilding and steel manufacturing.

When oil prices hit an all-time high in the '70s so did the city. Alas, what goes up must come down, and Houston's economy sank when prices dropped in the 1980s. Since then, the city has developed new, thriving industries focused on health care, aeronautics, technology and international banking. Along with oil, NASA is probably next identified with the self-titled "Space City."

Houston has evolved into a culturally rich and diverse city. Performing arts enjoy great support in Houston, one of just five U.S. cities with professional companies in ballet, opera, theater and symphony. The city is also home to impressive art museums and galleries, lovely parks and gardens, family-friendly attractions like the Houston Zoo and Children's Museum, and professional sports galore.