Munich, the capital of Germany’s innovative and wealthy state of Bavaria, is one of the most important commercial centers in Europe, as well as Germany’s leading high-tech location. Munich is the third-largest city in Germany, with a population of approximately 1.54 million and about 6 million in the metropolitan area.
Greater Munich is a diverse, cosmopolitan metropolis where 28.3 percent of residents are foreign nationals. The Greater Munich region has a GDP of 156.3 billion euros.
Munich boasts a low unemployment rate and high incomes. Per capita purchasing power was 30,136 Euros in 2017, 35 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.