With a gross national product of 445 billion euros in 2008, Bavaria exceeds those of 21 of the 27 EU member states. Bavaria's economic performance per capita of 35.530 euros is considerably higher than the German and European average (2008). Bavaria represents a market with one of the highest purchasing powers worldwide.
Bavaria's outstanding locational attributes are confirmed by international comparative studies, which regularly give a top ranking to the Munich region in particular.
Fifty years ago, Bavaria was still an agricultural state with no intensive links to important international markets. Since then Bavaria has developed into a "European High Tech Mecca" (a quote about Bavaria from Bill Gates, Microsoft's CEO and Founder), becoming a center of the "New Economy" and a globally significant economic partner.The latest export record of more than 155.7 billion Euro which constitutes the 15th record in succession in the year 2008 underscores the great international competitive strength of the Bavarian industry. (line 8-9)
In addition to the Bavarian export, the Indo-Bavarian trade relations are in excellent shape and can look back on a tradition extending over more than 500 years.
At 2008 Bavarian-Indian trade increased by 25% to about 2 billion Euro. India is now the number 4 among Bavaria’s most important trading partners in Asia. Altogether over 1,000 Bavarian companies already maintain business relations with India.
Bavaria's economy is modern and efficient
- Bavaria's economy is characterized by small and medium-sized companies of the industrial, trade and service sectors, but also by global players, such as Siemens, BMW, Audi, EADS, adidas, and MAN, thus providing a wide spectrum of competitive suppliers, customers and potential partners.
- On both the international and national level, Bavaria has taken a leading position in almost all new technologies - information and communication technologies, biotechnology and genetic engineering, energy and environmental technologies. Bavaria offers an attractive setting for high-tech companies.
- Key economic indicators point to the prominent role the service sector plays in the Bavarian economy. Bavaria is No.1 in German insurance and No.2 in banking. The state is also number one in tourism. The Munich and Nuremberg fairgrounds are of international importance. The substantial growth of the corporate services industry yields considerable value.
- an excellent infrastructure in sectors such as transport, telecommunication and energy, which guarantees optimal links and support to international markets,
- a high level of education and continuing education,
- an intensive promotion of research and technology with a share of 3.0% of the GDP resulted in Bavaria's top international rating, thus ensuring a lasting innovation and competition potential; and
- efficient administration, quick planning and authorization procedures as well as reliable and pro-business practices.
At the same time, modern Bavaria has succeeded in maintaining its attractive "soft location factors", i.e. rich cultural diversity, cherished traditions, well preserved nature, and a wide range of recreational activities, not to mention maximum internal security.
Bavaria is innovative
In keeping with the principle of "Shaping rather than owning", the Bavarian State Government has reinvested proceeds from privatization, totaling some 4.2 billion euros, in modernizing industry, state, and society within the framework of its High-Tech and "Offensive Zukunft Bayern" initiatives.
Bavaria has, for instance, specifically consolidated its competencies in cross-sectoral technologies of the future, such as information and communication technologies (ICT), life sciences, advanced materials, mechatronics, energy, and environmental technologies as well as nanotechnology.
The successful start to the Galileo program will be followed by additional steps to enhance the Free State's role as a center of excellence in European satellite navigation. Further development of the public R&D infrastructure and support of companies seeking innovations in ICT are seen as an ongoing mission in Bavaria
Bavaria is future-oriented:
In addition to boosting our high-tech competence, we focus on
Bavaria is open-minded
- further pushing the momentum of a dynamic start-up culture,
- increasing the internationalization of our science and industry, and
- and raising the quality of our educational system.
More than 1.200 foreign companies have already established subsidiaries and are successfully conducting business in Bavaria.
Welcome to Bavaria! The Invest-in-Bavaria team is prepared to provide you with tailored information and location expertise. We look forward to meeting new partners.
Bavarian State Minister for Economic Affairs, Infrastructure, Transport and Technology