Munich is the capital city of Bavaria and is the third largest city in Germany, after Berlin and Hamburg. Munich has the strongest economy of any German city, as well as the lowest unemployment rate of any German city with more than a million people. The city is also the economic centre of southern Germany. Germany is in Central Europe, bordering the Baltic Sea and the North Sea, between the Netherlands and Poland, south of Denmark. The climate is temperate and marine with cool, cloudy, wet winters and summers and occasional warm mountain wind. The official language is German. There are many regional accents and dialects, standard German is understood everywhere. English and French are also spoken in the country's western states while Russian is spoken in eastern states. Locals will appreciate an effort to express basic courtesies in German. The main religion is Christianity. The economy of Germany is the largest national economy in Europe, the fourth largest by nominal GDP in the world. The service sector contributes around 70% of the total GDP, industry 29.1%, and agriculture 0.9%. Most of the country's products are in engineering, especially in automobiles, machinery, metals, and chemical goods. Germany is the leading producer of wind turbines and solar power technology in the world. Germans tend to be formal in business and social settings. Punctuality is particularly very important in Germany. Expatriates should address associates by their surname (such as Herr or Frau Beckenbauer) until invited to call them by their first name. Expatriate business dress is a suit for all meetings. The security risk for expatriates in Germany is low. Risks include low levels of street crime, however violence is unusual, and expats are unlikely to be exposed to crime. There is risk of terrorism. The currency of Germany is the Euro (EUR). Banking is on a par with that of the rest of Western Europe and North America. Medical facilities are good, however the cost of treatment for expatriates from outside the EU can be high. The population of Munich is 2.6 Million (2016 est.), while the inflation rate is 0.3% (2016 est.).
Cost Of Living
The cost of living for expatriates in In Munich, the cost of each basket, based on local prices, compared to the international average, is categorized follows (Exact cost of living percentages only available in personalised reports): Munich as at 1 April 2016 is very high in comparison to other places in the world. 1) Alcohol (where available) & Tobacco: Very Low 2) Clothing: Very High 3) Communication: Very Low 4) Education: Average 5) Furniture & Appliances: High 6) Groceries: High 7) Healthcare: High 8) Household Accommodation: High 9) Miscellaneous: High 10) Personal Care: Very High 11) Recreation & Culture: Very High 12) Restaurants Meals Out and Hotels: Very High 13) Transport: Very High Munich is for example -20.9% cheaper than Grenada for groceries, -14.5% cheaper for household costs than Saint George's, and 36.5% more expensive for transport costs than Guadeloupe. The hardship premium for Munich for an expat from Georgetown, is for example -20%, i.e. host location (Munich) premium of 10% minus home (Georgetown) location premium of 30%. Munich is ranked as a minimal hardship location. Want to know more about cost of living, hardship or expat pay in Munich? Register subscribe to your home location and Munich and run your personalised reports.