Economy

Munich’s strength as a location for business is due to its diverse economic structure, its wide range of growth industries, a mix of important global players and vibrant medium-sized enterprises, an excellently skilled workforce, and an outstanding infrastructure. Munich as an economic region is one of the world’s leading high-tech regions and home to the headquarters of a number of global players such as BMW or Siemens.

Munich’s reputation is equally excellent when it comes to banks and insurance. The state capital boasts by far the largest concentration of insurers and is second only to Frankfurt as a banking centre (e.g., Allianz, Munich Re, HypoVereinsbank).

Located outside the city, Franz Josef Strauss International Airport is an important European hub, processing an annual total of more than 25 million passengers. Opened in 1992, the airport’s buildings amassed several architectural awards.

Munich is also a major player in the national and international convention business. This is helped on the one hand by an outstanding infrastructure that includes a modern airport, a public transport network that covers the entire region, excellent restaurants and hotels, and, on the other hand, by a varied choice of venues.