In Munich, it’s the mix that makes the difference. Modern buildings blend inharmoniously with old royal palaces and Baroque churches, bits and bytes with a laid-back beer garden culture. Do you know any other German city, where river surfers in their neoprene suites cross a street in the city center together with smartly dressed business executives? And who doesn’t know the Oktoberfest, the world’s biggest beer festival. No wonder every year more and more tourists flock to the city – in 2018 17.1 million overnight stays have been recorded by the tourism board.
Munich with its 1.5 million inhabitants is one of Europe’s principal growth regions. While Berlin is the capital of Germany, Munich is its economic heart, offering the highest purchasing power of any German city. Located just north of the Bavarian Alps, the Bavarian capital is not only seat for the state government, but also serves as headquarters for big global players such as BMW, Allianz, MAN, Munich Re, or Siemens as well as a multitude of international companies – especially from the high-tech industry. It also boasts a broad range of medium-sized companies spanning a wide spectrum of industries, as well as a large number of smaller firms and skilled craft businesses.
Overall, Munich is the key tech hub in Germany and heads the ranking of both status index and potential index. Major global tech players such as Intel, Microsoft, Google, Hewlett Packard, and many more have established branch offices here. Munich boasts the highest level of specialization in the information and communications technology (ICT) sector, has the highest number of STEM (i.e. science, technology, engineering, mathematics) jobs, and moreover reveals sustained dynamics in these areas.
Munich is also home to an active and diverse creative community of artists and designers. As a prominent media and film hub, the city is home to ProSiebenSat.1 Media AG, one of Germany’s biggest media groups, Burda Media, a publishing company, which owns over 400 magazines, including German editions of Elle, Harper’s Bazaar, and Burda Style as well as a great many special interest and trade media, bloggers and influencers.
Sources: Munich Department of Labor and Economic Development, Deloitte ’Germany’s Digital Hubs’ (PDF)