Narvik is a commercial centre for some of the neighbouring municipalities. Narvik University College has approximately 1,200 students. There are some high-tech businesses in Narvik (among them Natech and Scancell).
Narvik was one of the first areas in the world to be affected by the Late-2000s financial crisis. It lost $18 million in August 2007 after it invested in Citigroup securities. As the Norwegian government refused to bail them out, Narvik was forced to implement severe budget cuts
