Greater Munich, the capital of Germany’s innovative and wealthy state of Bavaria, is one of the most important commercial centers in Europe and Germany’s leading high-tech location. Munich is the third-largest city in Germany, with a population of approximately 4 million in the metropolitan area.
Greater Munich is a diverse, cosmopolitan metropolis in which 27.6 percent of its residents are foreign nationals. The Greater Munich region has a GDP of 1.56 billion Euros.
Munich boasts a low unemployment rate and high incomes. Per capita purchasing power was €31,000 in 2015, 38 percent above the national average. E-commerce and consumption are important drivers of growth for logistics and warehouses in the Greater Munich area.
Services, such as banking, information technology and healthcare, account for about 76 percent of Munich’s GDP, while manufacturing accounts for the remaining 24 percent. Munich is at the heart of a multi-modal hub with access to a large rail and road network. Accordingly, logistics is an important driver of economic growth in Bavaria and employs over 400,000 people.
Prologis operates industrial properties and warehouses in the Greater Munich area.