Frankfurt is Germany’s most competitive city ahead of Munich and Bonn, according to a study by Berenberg Bank and a German research institute.
Frankfurt, continental Europe’s financial center, won for the third time in a row because of the strength of its economy, education, innovation, internationality, accessibility and demographic trends, Berenberg and the Hamburg Institute of International Economics, or HWWI, said in a statement today. The last survey was carried out in 2010.
“Successful cities attract companies and people,” said Hans-Walter Peters, Berenberg’s chief executive officer. “A city’s success makes crucial contributions to a nation’s competitiveness.”
Frankfurt, home to Deutsche Bank AG and the European Central Bank, has one of the wealthiest and most educated populations in Germany. It has the highest number of foreign students and about 19 percent of its workers are “highly qualified,” according to the survey.
Munich was in second place for the third time in a row, though the gap has narrowed since the last survey.
“Munich particularly improved on its population growth,” Berenberg Bank and the HWWI said. “That means the Bavarian metropolis has a chance to make the No. 1 spot in the future.”
Berlin, Germany’s capital and its biggest city, rose to fifth place in the survey from eighth.