About Munich, Germany
Munich has the strongest economy of any
German city, as well as the lowest unemployment rate of
any German city with more than a million people. The city is
also the economic centre of southern Germany.
The initiative "Neue Soziale Marktwirtschaft (INSM)" (New
Social Market Economy) and the "WirtschaftsWoche" (Business
Weekly) magazine have awarded Munich the top score in their
comparative survey for the third time in June 2006.
Munich topped the ranking of the magazine "Capital" in
February 2005 for the economic prospects between 2002 and 2011
in sixty German cities. Munich is considered a global city and
holds the headquarters of many large companies.
Among German cities with more than 500,000 inhabitants
purchasing power is highest in Munich (26,648 Euros per
inhabitant) as of 2007. In 2006, Munich blue-collar workers
enjoyed an average hourly wage of 18.62 Euros (ca. $ 23).
Munich is also a centre for biotechnology, software and
other service industries. Munich is also the home of the
headquarters of many other large companies like the aircraft
engine manufacturer MTU Aero Engines, the space and defence
contractor EADS, the injection molding machine manufacturer
Krauss-Maffei, the camera and lighting manufacturer Arri, the
semiconductor firm Infineon Technologies, the DRAM company
Qimonda, as well as the German or European headquarters of many
foreign companies like Precision Plus, McDonald’s and
Munich has significance as a financial centre, being
home of HypoVereinsbank and the Bayerische Landesbank. It
outranks Frankfurt though as home of insurance companies like
Allianz and Munich Re.
Munich is the largest publishing city in Europe and home to
the Süddeutsche Zeitung, one of Germany's largest daily
Munich is also home to Germany's largest public broadcasting
network, ARD, and its largest commercial network, Pro7-Sat1
Media AG, and is also host to the Burda publishing group.
The Bavaria Film Studios are located in the suburb of
Grünwald. They are one of Europe's biggest and most famous film
Other Major Cities:
- Nürnberg (Nuremberg)