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16
03
2017

Growing Number of Companies Relocating to Berlin Create New Jobs

Berlin Partner, the city's economic development sponsor, believes that the local labour market will benefit from a large number of companies setting up their business in Berlin or moving it here. In 2016, around 4,000 new jobs were created in the German capital as 123 companies established their principal place of business in the city. According to Berlin Partner, this implies an increase of roughly 40 percent in jobs created by incoming businesses compared to 2015. Moreover, the number of new companies in town doubled since 2014. For the ongoing year, the economic development company predicts yet another increase. The inflow of companies has developed into a significant driver of Berlin's economy. From the perspective of the development sponsor, the German capital is witnessing a veritable “relocation boom.” Especially the successful start-up scene has drawn many companies to Berlin.

Around 45,000 New Jobs Expected

According to Berlin Partner, recent corporate arrivals intend to invest more than 500 million euros in Berlin, and create over 6,600 new jobs over the next three years. More than half of them will be with companies in the information and communications technology sector, the media and the creative industries. The trend in employment is generally rather auspicious in Berlin. Many sectors in the city are hiring. According to an assessment by IBB Investment Bank Berlin, employment growth in Berlin will hit 3.5 percent in 2017, and thereby far exceed the national average of just one percent. In concrete terms, this implies the creation of around 45,000 jobs in the German capital. These come in addition to the 130,000 new jobs created here over the past three years. Last year alone, the number of gainfully employed persons has increased faster in Berlin than in any other state in Germany. The nationwide increase during this time was one percent, compared to 2.5 percent in Berlin. Employment thus hit the highest level since the country's reunification in 1990.

Especially the growth sectors of the digital industry have lately embarked on a hiring spree, and stepped up their workforce by 8.9 percent. But these are not the city's only sectors with a keen demand for skilled labour, according to the IBB. The bank added that there are more than 10,000 open positions in the sectors transport, logistics, security, retailing and hospitality.

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