Dynamic and well positioned
Hannover's property market
Hannover’s property market has secured a permanent position in the premier league of th...
There are approximately 50,000 firms established in the metropolis, including 12,000 trade firms and 200 large companies and market leaders such as Continental AG, TUI AG and VW Commercial Vehicleds.
The positive development of the labour market is an important indicator of economic growth and prosperity in the Hannover region. On average almost 10,000 new jobs have been created here every year since 2010. At present, employment figures are at a record high of almost 488,000. The GDP for the Hannover region is significantly above the values for the state (€34,000) and Germany as a whole (€39,000) at around €69,300 per employee and approximately €40,500 per resident.
The market has undergone a profound transformation, from an industrial structure to a knowledge economy focusing on and specialising in the service sectors of information and communication as well as finance and insurance. Today, the service sector, with an employment rate of 79%, is ranked fourth amongst Germany’s agglomerations (74.5%): Only Berlin, Munich and Hamburg have more people employed in the services industry.
Research and teaching institutions offering a wide variety of training and study opportunities have given Hannover a nationwide reputation for education. The rate of employees in research and teaching is above average. Universities engage in user-oriented research in medicine, engineering, mathematics and science. Hannover Medical School (MHH), the Geozentrum Hannover, the Fraunhofer Institute for Toxicology and Experimental Medicine, the Helmholtz Centre for infection research and the Laser Zentrum Hannover are all national centres of research excellence.
Twelve innovative key industries with exceptional potential for innovation and employment have been formed in the Hannover region, and these now account for over 70% of the workforce. Below are just some of the industries underpinning the international importance of the economic region:
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