Business Transfer Informative Folder
DESCRIPTION OF THE REGION Business transfer UPPER BAVARIA /GERMANY informative folder The Free State of Bavaria, with a population of 12.5 million, is the largest Federal German State and also one of the most dynamic regions inside the country. With a gross domestic product (GDP) of for investors EUR 549,19 billion in 2015 (Source: www.invest-in-bavaria) Bavaria, as an independent State, would be ahead of 21 of the 28 EU member states. Its capital Munich is a major center of advanced technologies, finance, publishing, culture, innovation, education, business, and tourism in Germany and Europe. For years, according to international city rankings, Munich is one of the top cities in regard to the standard and quality of living. Bavaria has strong economic business relations with its neighbor States Austria, the Czech Republic and Switzerland and with some of the close regions of the Alpine Space like Northern Italy. Important characteristics: • The Free State is the number one location in Germany for insurances and number two for banking. • Highly developed sectors are automotive, construction, electrical engineering and electronics, renewable energies and energy technologies, information-, communication- and environment technologies. • Seven out of the 30 DAX-listed companies have their headquarters in the Munich area as well as many so called “hidden champions” of the famed German Mittelstand, mostly family-run businesses that have established themselves as global market leaders. • Bavaria is also number one in Germany for tourism. • Bavaria has almost full employment – in many regions the unemployment rate is below three per cent. • The backbone of the Bavarian economy is its number of highly diverse small and medium-sized enterprises (99 per cent of all Bavarian companies, source: www.statista.de), dislocated within the state’s regions.
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