City of Munich

Tradition and modernity, economic strength and pure quality of life: In the Bavarian capital, there is no contradiction in these concepts. They are all integral to Munich's vibrant identity. Global players feel just as much at home here as the variegated mosaic of midsized enterprises and ambitious start-ups. Favorable conditions known as the "Munich mix" have made this one of the most economically powerful and go-ahead cities in Europe.

 

 

Munich is Germany's third-largest city, with 1.54 million inhabitants, and its second-largest venue for employment, with 981,000 gainfully employed persons. Bucking the national trend, continuing and substantial population growth is forecast for the city on the Isar River. Between now and 2030, a consistently higher number of births than deaths and significant inward migration – mostly by well-educated young specialists – will cause Munich's population to swell by a further 15 percent or more to 1.72 million.

Alongside communication technology and automotive engineering, industries such as medical engineering, environmental technology, the life sciences and aerospace are also driving growth in the Bavarian capital. The Munich region is one of the ten top locations for creative industries in Europe. A large number of qualified service providers and suppliers guarantees a considerable depth of vertical integration in each industry. At the same time, Munich is both a prominent media hub and a major center of Germany's finance industry. It is regarded as the country's top insurance location and an important venue for asset management.

The city's economic strength is rooted in a balanced and very varied economic structure: the "Munich mix". A colorful spectrum of large corporations, successful SMEs and upwardly mobile start-ups, all operating across a diverse array of industries ranging from high-tech to handicrafts, makes the region highly resistant to crises. Of the 30 companies listed on the DAX index of Germany's top blue-chip players, six are headquartered in and around Munich.

Knowledge and innovation are precious resources in global competition. Having positioned itself as a modern hub of technology and science, Munich has met with great success in reinventing itself again and again – aided and abetted in no small measure by an enviable public and semi-public research infrastructure, 15 universities, the Max Planck Society, the Fraunhofer Society and the German Research Center for Environmental Health, all of which combine to create fertile ground for innovation. Ludwig Maximilians University and the Technical University of Munich number among the most research-intensive universities in Germany and Europe. Both consistently achieve top ranks in acquiring research funding from outside sources. The process of translating knowledge directly into innovations and new products is facilitated by the presence in Munich of the European Patent Office, the German Patent and Trade Mark Office and a raft of additional patent service providers. Coupled with the city's large number of investors and start-up centers, Munich thus cultivates an exceedingly start-up- and innovation-friendly business climate.

The city is also rapidly becoming a byword for sustainability. By the year 2025, municipal utility company Stadtwerke München (SWM) plans to supply all its corporate and private customers with electricity generated solely from its own renewable sources. That would make Munich the first major German city to meet the ambitious goals of independent power generation and climate protection. Working to a similarly far-sighted perspective, the city is investing in local government housing construction, child care and municipal schools to safeguard social cohesion in the long term.

A city's attractiveness crucially shapes its economic success. In a recent study, international management consultancy Mercer put Munich fourth in a list of the world's most livable cities (and top in the German rankings). The study examined 39 criteria rated as important by employees who are sent to work abroad. The result comes as no surprise, however, given the city's superlative infrastructure, low crime rate and outstanding quality of life. Munich continues to attract a growing number of qualified specialists, while the number of tourists who visit seems to break new records every year.

It is fair to say that Munich and the surrounding region are extremely popular, thanks in part to a wealth of world-class art and cultural offerings as well as a generous selection of parks, open spaces and the Isar valley. In close proximity, the lakes of Upper Bavaria and the idyllic Alpine foothills create a marvelous setting for leisure and recreation.

Munich is a very cosmopolitan city, with foreign nationals accounting for almost 25 percent of its population. Over 100 consular representations and a large number of international business clubs and cultural societies foster dialogue between Munich, Bavaria and various countries. Expatriates and their families can choose from 16 international schools and more than 70 bilingual child care facilities. Munich Airport guarantees a fast turnaround for trips home to wherever, with around 240 global destinations served by the Bavarian capital. A recent passenger survey conducted by the Skytrax aviation experts confirmed Munich's standing as the third-best airport in the world  and the best one in Europe.

Impressions of Munich

 

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Who to contact

Rita Roider

City of Munich
Department of Labor and Economic Development
Economic Development/Location Marketing

 

Phone: +49 (0)89 233-22229
E-mail: rita.roider@no-spam-pleasemuenchen.de

Eva Puckner 

City of Munich
Department of Labor and Economic Development

 

Phone: +49 (0)89 233-21626
E-mail: eva.puckner@no-spam-pleasemuenchen.de