Port of Spain a shopping and business centre for much of the country. Most government offices are also located in the city and many important government services can only be accessed in the Ministry offices located downtown. Within recent years, local banks headquartered here have helped it become a financial centre for the Caribbean and Central America region. Two of the largest banks in the Caribbean, Republic Bank, Trinidad and Tobago Limited and Royal Bank of Trinidad and Tobago (RBTT, reacquired by the Royal Bank in 2008) are headquartered here or base their Caribbean operations in the city. Trinidad's economy is based on
Port of Spain and San Fernando, Port of Spain has a cool climate due to elevation and the surrounding Northern Range mountains. In the high, misty valleys and mountains that surround the northern outskirts of the city, temperature inversion is quite frequent and the mountains provide a cooling relief from the sweltering heat below. Blue Basin falls, a popular attraction, is located north in Diego Martin. This is the closest waterfall and is invigorating and refreshing. Immediately north and northwest of Port of Spain lie the suburbs of Cascade, St. Ann's, Maraval and Diego Martin. The last two districts fall outside the municipal