The City of Munich, Department of Labor and Economic Development, has recently published its annual survey “Munich as a Business Location – Facts and Figures”. The report gives a concise, updated overview of the many and varied aspects of Munich’s economy. It includes economic data, e.g. employment and turnover, for different sectors. Remarkably, Munich has a low unemployment rate (4.6% compared to 6.4% in Germany) and a strong focus on high-tech. With a total of 727 companies in biotechnology, pharmaceutical industry and medical engineering, the life science sector contributes significantly to the regional economic development. The three industries add up to a turnover of EURO 12.6 billion and employ about 43.900 people.
Another recent study titled "European Cities and Regions of the Future 2016/17", underlines Munich’s strong economic position. Munich is ranked fifth in the Europe-wide benchmark of 481 cities and regions. According to the study by fDI Intelligence (Financial Times Group), Munich’s assets are its economic potential, the number of qualified employees as well as the high quality of life. In the area of foreign investments, companies from Munich are even ranked first.
The high quality of life in the Bavarian capital is also validated by a third current survey. The benchmark by Mercer assesses the quality of life in 230 cities world-wide. Munich is ranked first in Germany and fourth globally after Vienna, Zurich and Auckland.
Further information:
http://www.muenchen.de/rathaus/Stadtverwaltung/Referat-fuer-Arbeit-und-Wirtschaft/News/facts-and-figures.html