Munich is the capital city of Bavaria (Bayern), Germany. It is located on the River Isar north of the Bavarian Alps. Munich is the third largest city in Germany, after Berlin and Hamburg. There are about 1.35 million people living within city limits, while the Munich Metropolitan Area (including the urban areas of Augsburg, Ingolstadt, Rosenheim and Landshut) is home to over 5 million people. Munich hosted the 1972 Summer Olympics and is a candidate city for the 2018 Winter Olympics. The city’s motto is “München mag Dich” (Munich Loves You). Before 2006, it was “Weltstadt mit Herz” (Cosmopolitan city with a heart). Its native name, München, is derived from the Old High German Munichen, meaning “by the monks’ place”. The city’s name derives from the monks of the Benedictine order who founded the city; hence the monk depicted on the city’s coat of arms. Black and gold—the colours of the Holy Roman Empire—have been the city’s official colours since the time of Ludwig the Bavarian.
Munich is not the only location within Bavaria known as “München”. Three such locations exist: one that is known as “Munich”, another that is located northeast of the city of Nuremberg, and a third, Hutthurm, that is located north of Passau. Modern Munich is a financial and publishing hub, and a frequently top-ranked destination for migration and ex-patriate location in livability rankings. Munich achieved 7th place in frequently quoted Mercer livability rankings in 2010. For economic and social innovation, the city was ranked 15th globally out of 289 cities in 2010, and 5th in Germany by the 2thinknow Innovation Cities Index based on analysis of 162 indicators. In 2010, Monocle ranked Munich as the world’s most livable city.
The city is an inspiring mix of historic buildings and impressive architecture, since Munich reconstructed the ruins of their historic buildings but also created new landmarks of architecture. A survey, conducted by the Society’s Center for Sustainable Destinations for the National Geographic Traveler, chose over 100 historic places around the world and ranked Munich as the 30th best destination.
Munich has the strongest economy of any German city and the lowest unemployment rate (5.6%) of any German city with more than a million people (the other ones being Berlin and Hamburg). The city is also the economic centre of southern Germany. The initiative “Neue Soziale Marktwirtschaft (INSM)” (New Social Market Economy) and the “WirtschaftsWoche” (Business Weekly) magazine have awarded Munich the top score in their comparative survey for the third time in June 2006. Munich topped the ranking of the magazine “Capital” in February 2005 for the economic prospects between 2002 and 2011 in sixty German cities. Munich is considered a global city and holds the headquarters of Siemens AG (electronics), BMW (car), MAN AG (truck manufacturer, engineering), Linde (gases), Allianz (insurance), Munich Re (re-insurance), and Rohde & Schwarz (electronics). Among German cities with more than 500,000 inhabitants purchasing power is highest in Munich (26,648 euro per inhabitant) as of 2007. In 2006, Munich blue-collar workers enjoyed an average hourly wage of 18.62 euro (ca. $ 23).
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