global-electronics.net - Business, science and research

Business, science and research

The Munich combination

Munich's strength as a business location is based on the diversity of its economic structure, the wide range of rapidly growing industries, the mixture of global players and SMEs, a highly qualified workforce and an excellent infrastructure. The large percentage of modern industries and service sectors makes the greater Munich area - just like the quality of life that is the result of its location - a magnet that ensures the constant influx of new residents.

The scope of the Munich economy

Munich trade fairs and exhibitions are leading events in branches of industy that play a key role in the growth of the global economy. The balanced scope of the Munich economy ranges from skilled trades and the manufacturing industry to modern service and growth sectors. Munich is the heart of the German high-tech industry and one of Europe's leading regions in the sectors for information and communications technology (ICT), the media, finance and the life sciences.

No. 1 high-tech location

Munich is the uncontested leading high-tech location in Germany. It is home to more than 20,000 high-tech companies in the electronics, telecommunications, electrical-engineering, machine and automobile manufacturing and aerospace sectors.

Highly diverse service sector

The portfolio of services in the Munich economy covers a broad spectrum. Bavaria is the Number 1 tourism region in Germany, so Munich has an important hospitality sector that influences the quality of life and lends the city a special flair that starts with its traditional "beer-garden culture".

Information and communications technology

No other city in Germany has as many jobs in the IT, software and communications sectors as Munich. It is ranked in fourth place worldwide, after Silicon Valley, Boston and Tel Aviv.

Retail trade/skilled trades

Munich enjoys an excellent reputation as a retail location: In comparisons with other major German cities, Munich tops the list when it comes to both retail space as well as sales and space productivity. Upper Bavaria also has some 60,000 handicraft businesses with far more than 300,000 employees.

Finance

Munich plays an important role in the German financial sector, and several banks and insurance companies have their company headquarters and subsidiaries here. Munich's financial sector also includes other segments such as asset management, venture capital and leasing.

International media sector

Besides having the largest concentration of publishing companies in Germany and the second-largest in the world, Munich is also home to a number of prominent media enterprises. Munich is an outstanding and dynamic media center with a brilliant future – whether in motion pictures, TV, multimedia or advertising.

Additional information: Media in Bavaria

Biotechnology/life sciences

The internationally recognized educational and research facilities of Munich's universities, colleges and technical schools are a driving force behind Munich's development as a key biotechnology location. Since the startup boom in the late 1990s, companies located mainly at the Martinsried Campus and the scientific campus in Weihenstephan/Freising have been producing and conducting research in close cooperation with the Max Planck Institute for Biochemistry, Munich's two major universities and other institutions.

Additional information about the economy

Additional information is available at the web sites of the Office for Labor and the Economy of the City of Munich.

Science and research

The raw material "intellect" is an extremely important factor of production for Munich and Bavaria that is systematically supported and promoted.
Munich's renowned universities provide for a continuous supply of young professionals and qualified specialists.

Several university and non-university research organizations such as the internationally eminant Max Planck Society and the Fraunhofer Society as well as educational facilities in various companies stimulate and secure the innovative climate for technological progress:

Colleges and universities in and around Munich: