Key figures | City of Munich

Key economic figures

Munich, as the capital of Bavaria and both a national and international hub, boasts outstanding characteristics. These characteristics form the basis of Munich’s economic strength.

Munich is a large part of why Bavaria and southern Germany as a whole are particularly strong economically.

Our fact sheet contains the latest economic facts and figures for the region:

Key economic figures for Munich

Photo: Munich as a business location. Facts and figures 2024. Page 5

Central location, outstanding infrastructure

Blick auf den Flughafen München Tower und die Alpen

Photo: Michael Fritz, Flughafen München

Ansicht Haupteingang zum neuen Münchner Hauptbahnhof, Architekturzeichnung Auer und Weber

Photo: Auer Weber

Verkehrsmittel in München, Fahrradfahrer*innen [Fotos: MVG/Kerstin Groh (4), SWM/Steffen Leiprecht (1), Tobias Hase (1)]

Photo: MVG, SWM

Traffic and transport hub

Munich is a key transport hub, connecting central, eastern and south-eastern Europe via an excellent railway and road system.

Aviation hub
Munich Airport is a prominent European aviation hub, serving around 220 destinations worldwide. In addition to the passenger business, which reached its zenith before the coronavirus pandemic with around 48 million passengers, the cargo sector is also very important. The airport is equipped with all the latest technology, and handled around 332,000 tons of air freight before coronavirus. By 2023, commercial air freight reached 277,000 tons again.

New Central Station
Munich Central Station (Hauptbahnhof), Germany’s second largest passenger train station, is currently undergoing a major upgrade. The main building, the northern side wing, and the forecourts are being modernized or reconstructed, and will have extra commercial space. Deutsche Bahn, the federal government and Free State of Bavaria are also expanding and improving all aspects of rail transport in the western and eastern parts of the city center.

From public transport network to integrated mobility platform
Munich’s public transport system comprises a 444 km S-Bahn, 95 km U-Bahn, 82km tram and 575 km inner-city bus network. 623 million passenger journeys were undertaken in 2022. The network is constantly expanding to keep pace with the city’s growth. Munich is also continuously developing its “Mobility Strategy 2035”, which is creating interconnected, greener, sustainable and space-saving mobility services for all citizens, as part of the transition to a smart city.

Germany’s DAX capital

Skulptur Walking Man vor dem Haupteingang von Munich Re in München

Photo: nitpicker / Shutterstock.com

Seven of Bavaria’s nine DAX-listed companies are based in Munich and its surrounding area - more than in any other urban region in Germany.

The market capitalization of Munich’s DAX-listed companies accounts for around €442 billion or one fifth of the total DAX value.

Munich is also Germany’s top-ranking city for MDAX, SDAX, and especially Tec-DAX-listed companies.

DAX-listed companies in Munich

Munich is renowned for its many illustrious companies and in particular the broad range of market leaders in various sectors.

Highest purchasing power in Germany

Munich and several districts in the region boast the highest purchasing power in Germany. The figure in Munich for 2023 was €34,423 per inhabitant, 32 percent above the federal average. This reflects the region’s strong employment situation and relatively high wages and salaries.

Investors regard purchasing power as a key indicator for consumption, which makes Munich a desirable location for luxury goods. However, Munich’s rents and property prices are also among Germany’s highest. The high prices and cost of living in the region also reduce purchasing power somewhat.

Labor market

Low unemployment

Munich's labor market has had one of the lowest unemployment rates among major German cities for many years. In 2023, Munich's unemployment rate was 4.1 percent.

Sectors with strong employment growth include ICT, business-support services, and healthcare and social services.

Demand for skilled workers with STEM qualifications (science, technology, engineering, and mathematics) remains high in Munich. There is also great demand for skilled workers in the trades sector, construction, and healthcare and social services.

Great labor market potential

Approximately 140,000 students are enrolled at three large public universities and more than 25 smaller private and public universities, including universities of applied sciences and academies, in Munich and the surrounding area. 43 percent study STEM subjects, which is above the German average.

Munich’s Universities of Excellence, TUM and LMU, and the University of Applied Sciences cover an enormous spectrum of internationally renowned degree programs and research areas. Some 22,000 individuals graduate in Munich each year and enter employment.

Around 41 percent of people in socially insured jobs in Munich have a university degree, the highest rate of anywhere in Germany.

Numerous young and highly qualified people from abroad also come to Munich.

In addition, many people obtain dual education and training in companies from Munich’s broad range of sectors. Companies can’t always fill all apprenticeship places. Applicants with a flexible approach are desired.

International and diverse

Ein bunter Menschen-Mix am Weißenburger Platz vor dem Brunnen im Gegenlicht

Photo: Michael Nagy, LHM

Munich is a highly diverse economic powerhouse with strong international ties. Around 30 percent of the region’s 1.59 million inhabitants have foreign citizenship – from 180 different countries in total. This makes Munich one of Germany’s most popular cities for foreign nationals.

There are 16 international schools, numerous services for native speaker additional tuition, and more than 70 bilingual preschool facilities and parent initiatives here.

More than 100 countries have diplomatic offices in Munich. More than 90 business clubs, chambers of commerce, and networks promote international cooperation in the business community.

Further details are available here:

General and honorary consulates in Munich

International business communities

International schools and preschools

Investing in Munich’s future

As a major city with a strong appeal and a growing population, Munich faces the challenge of remaining not only sustainable, but also attractive and liveable for its citizens.

The 2023 budget provided for investments of over €2.3 billion in the following important concerns:

school and daycare construction
affordable housing
expansion and renovation of public transport
climate protection measures

Municipal investments totaling over €10 billion are planned for the period from 2023 to 2027. This puts Munich at the top of the list of German cities in terms of municipal investment.

Munich's companies make an important contribution to financing the high level of investment in the form of trade tax payments, the most important municipal tax. The economic strength of Munich's companies is reflected not least in the amount of this tax.

Key figures for Munich