In 2003, Wowereit declared that ""Berlin ist arm, aber sexy"" ("Berlin is poor, but sexy"), a description that reflected on the one hand the city's high unemployment and on the other its cultural vibrancy, aided by a relatively low cost of living for a major European capital. The phrase helped to market the city to the rest of the world, and it drew in tourists, as well as attracting artists, writers, musicians and subsequently technology entrepreneurs. However, the influx of people and money has caused tensions with longer term residents, who have expressed concern about gentrification and increasingly expensive rents.