World class through economic balance
Industry diversity and an above-average dynamic in economic development are the economic characteristics of the city of Munich and its metropolitan region. For these reasons and because of the low unemployment, well-trained specialists will continue to be in demand in the region.
Powerful industries and companies with a global reputation
Munich’s economic performance can already be seen from the fact that Munich’s share of the Bavarian population is only 11.3%, while the city’s share of the state’s GDP is 19.2%. Six of the thirty DAX companies have their headquarters in Munich: Allianz SE, BMW, Munich Re, Siemens, MTU Aero Engines and Siemens Energy. Munich thus occupies the top position in this statistic in a Germany-wide comparison.
In terms of added value, the area of financial, insurance and business services comes first in Munich. The two DAX companies Allianz – one of the largest insurers in the world – and Munich Re, which is the world’s leading German reinsurance company, certainly have the largest share in this top position. Other companies from this area are represented with their German branches in the city, e.g. B. AXA, BNP Paribas, Deutsche Pfandbriefbank, Generali or the WWK.
The second largest value-added area is trade, hospitality, transport, information and communication. On the one hand, this has to do with the city as a tourist destination. Millions of foreign tourists, mainly from Europe, the USA and Asia, visit Munich every year and enjoy the city’s cultural diversity, which is reflected in the numerous sights, museums, galleries and historic buildings. In connection with tourist destinations in the surrounding area such. B. the Neuschwanstein Castle, the Chiemsee or the Zugspitze, other Upper Bavarian regions can also benefit from the tourist magnet Munich. The Oktoberfest also plays an important role for both locals and day tourists and is a significant sales factor for hotels and restaurants.
In information and communication technology, mostly international companies with their German branches play an important role in the city. These include
- Cisco Systems
The manufacturing sector ranks third in value creation. The other DAX companies BMW, Siemens, Siemens Energy and MTU Aero Engines can be found here. Other well-known companies such as Intel, Knorr-Bremse, MAN, Webasto, Krauss-Maffei, Osram and TDK have branches in Munich or in the surrounding area.
Munich metropolitan area
The metropolitan region of Munich with its districts is also dotted with large companies. The DAX company Infineon, the largest semiconductor manufacturer in Germany, has its headquarters in Neubiberg. The industrial gas specialist Linde AG has a location in Pullach.
In addition to these two surrounding communities, there are other communities in the Munich area:
- Grünwald (location of film production and media companies, among other things)
- Unterföhring (headquarters of ProSiebenSat.1 Media SE)
- Garching (with its research center)
- Oberpfaffenhofen (with the German Aerospace Center)
Further larger cities are:
- Ingolstadt (headquarters of the automobile manufacturer Audi).
Traffic, transportation and logistics
The region offers an excellently developed infrastructure. Munich and its surroundings are popular not only as a business location, but also as a place to live. Where else can you reach popular holiday locations or regions such as Innsbruck, the winter sports resorts of Am Arlberg, in North Tyrol and South Tyrol, Verona, Venice, the Adriatic Sea or the Dolomites in just a few hours by road or rail?
Munich is also the hub of the important international rail connections
- Berlin – Munich – Rome
- Paris – Munich – Budapest
- Zurich – Munich – Prague
Important autobahns, which lead from Munich to
Italy and Slovenia, among others, are also connected via the Munich autobahn ring. With the completion of the Brenner Base Tunnel, the Munich region will play a more important role in European rail freight transport in the future. With the completion of the tunnel and the access routes to the north of Rosenheim through the Inn Valley and from the south of Verona through the Adige Valley, the expected increase in transport volume in European freight traffic can be absorbed and some of it can be shifted from road to rail. In this way, the negative effects of road transport on people and the environment on the Rosenheim – Kufstein – Innsbruck – Brenner Pass – Bozen – Trento – Verona axis can be limited. The DUSS Munich-Riem terminal is already being operated effectively as a double module system in international road-rail traffic.
Another attractive location for combined transport is the freight transport center in Ingolstadt, which has a container transhipment station with a KLV terminal, where around 30,000 loading units are transshipped. It was built in 1995 and connects to the factory premises of the vehicle manufacturer Audi in order to ensure the security of supply for production and to reduce logistics costs. The GVZ consists of 15 halls with a usable area of 425,000 square meters and contributes to reducing the environmental impact of delivery traffic due to the lower truck transport traffic.
Munich Airport “Franz Josef Strauss” is located in Erding, which connects the region with 264 destinations in over 70 countries. The airport is the second largest airport in Germany after Rhein-Main Airport in Frankfurt. Munich Airport also serves the logistics industry as the largest cargo airport in southern Germany and as a gateway for the entire south-eastern European region. Numerous air freight companies have branches at or near the airport.