Munich is once again the best ranked German city in LaSalle’s annual European Regional Economic Growth Index (E-REGI) which identifies European cities (although it says “regions” in the title) with the best economic prospect. The rankings purpose is to help worldwide investors think more clearly about where to put their dough to work in Europe.
Munich took 7th place overall in Europe this year and is thereby the best ranked amongst the 15 German cities and regions that found their place on the list of hundred. The city is ranked 3rd within the “The Consistent” category of the ranking, following only London at first and Paris at second place. Munich profits from a diversified, export-oriented industry which heavily invests in R&D and is characterised by a healthy mixture of large corporations and small and medium sized companies.
LaSalle’s Investment Management states in its E-REGI 2015 Conclusions about the Bavarian capital:
“With a historically low unemployment rate of circa 2.5%, the Bavarian capital faces a severe labour shortage, although job opportunities attract German and foreign workers alike. Despite the weakened employment outlook, the city ranks eleventh in terms of growth score, thanks to a strong GDP growth outlook and R&D expenditure. Munich benefits from a well-diversified, export-oriented economy. The city is home to a number of multinational companies such as Allianz, BMW, MAN, and Siemens, but also encompasses a thriving network of small-and medium-sized businesses.”
The other German cities on the ranking are: Stuttgart (9), Frankfurt (19), Mannheim-Karlsruhe region (22), Cologne-Bonn region (30), Nuremberg (33), Berlin (35), Hamburg (39), Dusseldorf (42), Bremen (49), Hannover (54), Ruhr region (63), Leipzig-Dresden region (65), Bielefeld (66), and Saarland (86).