Hamburg ranked as city with best economic outlook

Hamburg ranked as city with best economic outlook
Photo: DPA
Hamburg has pipped Munich to be ranked the city with the best economic outlook in Germany, Capital magazine reported on Tuesday.

A survey for Capital by the Feri Economic Research Institute placed the northern German port city Hamburg at having the most promising future ahead of Munich, which topped the list the last time. Hamburg moved up from fourth from the previous survey in 2007.

“No other location in Germany is as well-prepared for globalisation and international trade as Hamburg,” Feri economist Manfred Binsfeld told the magazine.

Capital speculated that at its current rate of growth, Hamburg’s economy should grow by 13.5 percent by the year 2015, adding 5.4 percent more jobs to the existing 1.1 million already there.

Other cities in the top 10 included Münster, Wiesbaden, Freiburg, Bonn, Heidelberg, Stuttgart, Frankfurt and Düsseldorf.

Cities in formerly communist eastern German states also saw some improvement, with Dresden moving up to 13th from 16th, Potsdam at 20 and Berlin at 29. However, the magazine noted that the bottom five spots are all occupied by eastern German cities, including Schwerin to Halle.

The study ranked cities by looking at the economic outlook for 60 cities between 2006 and 2015 in categories such as economic performance, jobs, population and purchasing power to develop businesses further.

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