2012: a year of success for Munich – annual economic report of the municipal government

by Landeshauptstadt München

The municipality of Munich has issued the 2013 edition of its annual report on the city's economy. It depicts the many top rankings accorded to Munich in Germany-wide and international comparative and other kinds of studies. Viewed on an overall basis, Munich's economy  sustained its growth in 2012. The report provides the details of this performance. Case in point is the 3.4% growth in 2012 in the permanently-employed (defined as being those whose positions require the paying into social security accounts). This was the highest rise in 12 years. In an accompanying move, the unemployment rate in the Munich region (of Germany's Employment Agency) declined to 4.6% - the lowest of any German city with a population of more than 500,000.

At 23,140, the number of newly-registered companies was 7.1% less than that of 2011, which was, however, a very strong year. Munich's total accounted for 17.5% of all such registrations in the state. In 2012,  93,500 companies were based in Munich.

The economic success of the city manifested itself in the purchasing power of the city's residents. At € 26,128 Euro per capita, it was 29% above the Germany-wide average. This thus represents another area in which Munich is by far the leader among Germany's major cities.

A glance at the municipality's finances also reveals positive trends. The municipality received revenues totaling €5.2 billion. This enabled the city to reduce its indebtedness by €281 million. At €946, Munich's per capita indebtedness reached its lowest level since 1987. That this was not achieved at the cost of investments is proven by the city's plans to invest €3.36 billion during 2012 – 2016.

Link to annual economic report: http://www.wirtschaft-muenchen.de/publikationen/pdfs/jahreswirtschaftsbericht-muenchen-2013.pdf

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