Multifaceted Munich - The Bavarian Capital Shines Across The Spectrum
Business Traveller India|October 2021
The Bavarian capital shines on every aspect including tourism, business, architecture and automobiles
Akanksha Maker

Standing on the banks of the River Israr, Munich lies at the north of the Bavarian Alps. It is the seat of the Bavarian administrative region of Upper Bavaria and is also the second-largest city in the Bavarian dialect area, after the Austrian capital of Vienna.

Today, Munich is one of the foremost global hubs and centres of art, science, tech, finance, publishing, culture, tourism, business and education. As per the recent Mercer survey, Munich’s standard of living was recognised as the highest in Germany — and the third highest in the world! It was also rated as the world’s most liveable city according to a recent Monocle’s Quality of Life Survey. It’s also won the accommodate of being an “alpha-world city” (a global city, also called a power city, world city, alpha city or world centre, is a city which is a primary node in the global economic network). It is not surprising that Munich is also one of the most prosperous and fastest-growing cities in Germany.

High tech, the service sector, IT, biotechnology, engineering, electronics and automobiles drive Munich’s progressive economy. The Bavarian city is the headquarters of many multinational companies such as BMW, MAN, Linde, Allianz, MunichRE and Siemens. The metropolis is also home to two world-class research universities and an array of scientific institutions. The city is also known for its globally acclaimed museums including Deutsches Museum and BMW Museum.

TOURISM HUB

It’s no surprise that Munich’s numerous architectural and cultural attractions, sporting events, exhibitions and its annual Oktoberfest attract considerable tourism. In fact, the Bavarian capital is the German city that receives the highest proportion of foreign tourists. Its attractiveness could be contributed to its easy accessibility, impressionable sights to see, a plethora of shopping facilities, close by venues for nature-led excursions and considerable number of museums, buildings, restaurants, bars and cafes.

Tourism in Bavaria was on the rise with overnight stays for the first time exceeding 100 million in 2019. Munich tourism figures continued to rise significantly as well. The domestic tourism market particularly showed strong upward momentum with the number of domestic overnight stays rising by 8.6 per cent to a total of 8.5 million year on year.

Overall, 20 new hotel projects in Munich were completed until December 2019. The capacities rose to about 88,000 beds in 470 commercial hotels by the end of the year. At the same time, hotel occupancy rates remained at 75 per cent and at the former price level. There is a definite interest in larger international hotel groups to invest in properties in the Bavarian capital.

Overall revenue generated by tourism added up to roughly €8.29 billion in 2019. Out of this, figure, 35.7 per cent was accounted for by retail, 43.2 per cent by hotels and restaurants and the rest by the service sector.

AUTOMOTIVE POWERHOUSE

Continue reading your story on the app

Continue reading your story in the magazine

MORE STORIES FROM BUSINESS TRAVELLER INDIAView All

World's First Warner Bros. Hotel To Open Its Doors In Abu Dhabi

MIRAL ASSET MANAGEMENT with Warner Bros. announced that The WB Abu Dhabi hotel on Yas Island, operated by Hilton under the Curio Collection brand, will open its doors to guests on November 11, 2021.

1 min read
Business Traveller India
November 2021

Hong Kong Wine And Dine Festival 2021

THE HONG KONG WINE and Dine Festival, organised by the Hong Kong Tourism Board, has long been the city's annual gastronomic extravaganza.

1 min read
Business Traveller India
November 2021

THE FESTIVE VINO COLLECTION

The festive season is here and a wine expert recommends some labels that must be in your bar at this time of the year

3 mins read
Business Traveller India
November 2021

ENTER THE SANDBOX

Thailand’s ambitious “Phuket Sandbox” programme aimed to reboot international tourism without quarantine

4 mins read
Business Traveller India
November 2021

SWISS ALPINE DIARIES

Exploring the picture perfect Swiss towns of Engelberg and Zermatt

7 mins read
Business Traveller India
November 2021

SPICEJET ADDS KUSHINAGAR - INDIA'S NEWEST AIRPORT

SPICEJET ANNOUNCED THE addition of Kushinagar to its domestic network starting November 26, 2021.

1 min read
Business Traveller India
November 2021

COURTYARD BY MARRIOTT EXPANDS ITS PORTFOLIO IN WESTERN INDIA

COURTYARD BY MARRIOTT announced the brand's debut in Mahabaleshwar with the opening of Courtyard by Marriott Mahabaleshwar.

1 min read
Business Traveller India
November 2021

IHG DEBUTS INTERCONTINENTAL BRAND IN BARCELONA

IHG HOTELS AND RESORTS has opened its second Intercontinental property in Spain, located in Barcelona's Montjuic district.

1 min read
Business Traveller India
November 2021

CAPITAL INDULGENCE

Delhi's premium hotels house some of the finest F&B outlets of not only the capital, but all of India

7 mins read
Business Traveller India
November 2021

SUV Picks For This Season

An automobile expert gives his top SUV picks for this season

5 mins read
Business Traveller India
October 2021
RELATED STORIES

ZUCKERBERG ACCEPTS THAT FACEBOOK MAY HAVE TO PAY MORE TAX

Facebook CEO Mark Zuckerberg plans to throw his support behind international reforms that would require Silicon Valley tech giants to pay more tax in Europe.

1 min read
Techlife News
Techlife News #434

Zuckerberg Accepts That Facebook May Have To Pay More Tax

Facebook CEO Mark Zuckerberg plans to throw his support behind international reforms that would require Silicon Valley tech giants to pay more tax in Europe.

1 min read
AppleMagazine
February 21, 2020

Motivated Perfectionist

Janja Garnbret, the most dominant comp climber on the planet

8 mins read
Gym Climber
Issue 4, Winter 2019-2020

It Doesn't Have To Be Oktroberfest To Enjoy Munich's Beer Scene

Oktoberfest is known the world over, but Munichs legendary beer scene can be enjoyed throughout the year

4 mins read
Business Traveler
October 2018

How to cope with rising term insurance premiums?

Some time ago, Munich Re, a large reinsurer in the Indian market, informed a few insurance companies that it would hike its reinsurance premiums by 30-40 per cent. It also asked insurers to tighten their underwriting standards. With the leading reinsurer hiking its reinsurance premiums, insurers are likely to follow suit with a hike in their insurance premiums.

2 mins read
Investors India
November 2021

Bayern's bid for 10th German League title boosted by rivals' disarray

Bayern are cruising unbeaten at the top of the league table under new coach Nagelsmann and their challengers from last season are in disarray. They have won their last nine matches in all competitions and scored at least three goals in each game

3 mins read
Gulf Today
October 01, 2021

Lewandowski hat-trick steers Bayern Munich into knockouts

MUNICH: Bayern Munich's Robert Lewandowski scored a hattrick, set up another goal and missed a penalty on his 100th Champions League appearance as they crushed Benfica 5-2 on Tuesday to cruise into the knockout stage with two Group E matches to spare.

2 mins read
Hindustan Times
November 04, 2021

When Breads Speak German

The importance of bread in every society is unique in itself. Every country has many variations on the offer.

5 mins read
Bakery Review
August - September 2021

Dacia underlines low-cost focus; “won't chase Euro NCAP stars”

DACIA WILL KEEP its cars cheap by making them as simple as possible, even under the mounting pressure of environmental and safety legislation.

2 mins read
Autocar UK
September 15, 2021

We'll Bar Pitch Protest Thugs, Say Man United

MANCHESTER United fans found guilty of violence or causing criminal damage during Sunday’s pitch battles with police will be banned, the club said last night.

2 mins read
Daily Express
May 04, 2021