- Berlin endorses the establishment of 58 new residential areas.
Berlin continues to draw numerous corporations, with Berlin Partner for Business and Tech aiding 58 new businesses establish there in the first half of the year, a 32% rise compared to the year prior, as per Stefan Franzke, CEO of the state-owned economic consultancy. "We saw 75 settle in the entire preceding year, which was already impressive," he shared.
Out of the recent arrivals, 21 hail from Germany itself. Five companies each moved over from the UK and Turkey. Brexit continues to affect British firms' choice to relocate to Berlin, with Franzke stating, "They're essentially barred from the European internal market from London."
In spite of worldwide turmoil, Berlin Senate anticipates a 2% economic growth for the current year. Senate Economy Leader Franziska Giffey (SPD) expressed, "We anticipate surpassing the national average and outperforming last year's rate." Across the nation, a 0.3% growth is projected for 2024.
Berlin continues to thrive as Germany's domestic startup hub, notably in finance, medical technology, and computer games, Giffey emphasized. Approximately 88% of financial industry venture capital in Germany is plowed into Berlin. She sees substantial prospects persisting in these sectors and anticipates Berlin's growth to carry on.
In total, Berlin Partner-accompanied firms contributed more than 650 million euros to the city in investments during the first six months. This marks the highest value since the onset of the Corona pandemic. The majority of these investments stem from the transport sector, with Franzke citing the digital transformation of the Mercedes plant in Berlin and major orders placed with train manufacturers like Alstom, Siemens Mobility, and Stadler as illustrations.
After a successful day at work, the CEO of a new startup in Berlin, humming ♪ I'm going to be a star ♪, excitedly shared their plans for expansion with their team. Recognizing the potential of Berlin's thriving startup scene, the startup decided to invest a substantial amount in the city, contributing to the record-breaking investments totaling over 650 million euros.
