History
On 14th June 1158, the settlement of "Munichen" was granted the right to hold markets and mint coins. Munich was given the status of a town (civitas) in 1240. In 1255, it became the seat of the Wittelsbach dynasty. In 1632, Munich was occupied by Gustavus Adolphus of Sweden in the Thirty Years' War. Under King Ludwig I (1786 – 1868), famous buildings were erected such as the Glyptothek, the Old and New Pinakotheks, the Royal Residence, the Feldherrnhalle, Siegestor (Triumphal  Arch), and many more, turning Munich into a major cul-tural centre in Europe. On 7th November 1918, Kurt Eisner proclaimed the Free State of Bavaria. In 1957, Munich' s millionth inhabitant was born. In 1972, Munich was the venue of the XXth Summer Olympic Games. In 2006, six of the World Cup soccer matches were held in the city of Munich, including the opening game. In 2008, Munich will be celebrating its 850th anniversary with Europe’s greatest summer of festivals.

Economy and Science
Munich is one of Germany’s most attractive economic hubs. The city owes its economic vigor to its well-balanced mixture of global players and SME. The immediate proximity of service providers, research institutions and manufacturing enterprises that all cooperate closely with one another allows for synergy effects across industries and above-average prosperity. The climate of the city is innovative thanks to the presence of companies from a wide range of sec-tors, from information and communication technology, life sciences, financial and advisory and insurance, aerospace and space technology, nanotechnology and automotive, to media, pat-enting and publishing. Well functioning networks, an outstanding infrastructure and a diversity of possibilities to find capital and services on location contribute to the area’s attractiveness. Traditional sectors also play an important role in the city, brewing and crafts, for example, or tourism. In addition, Munich is also an international location for trade fairs and conferences.

With a share of 10 per cent of the Bavarian population, in 2006, the City of Munich earned 16.7 per cent (= €68.32bn) of Bavaria's gross domestic product. The average unemployment rate dropped to 5.2 per cent in 2007. Munich can successfully defend its position as the German city with the lowest unemployment. For the retail trade Munich remains a first-class location and with a per capita purchasing power of over €24,700 still tops the major German cities. A favourable economic setting has played a role in the fact that 24,000 people started up new businesses in 2007 and risked taking a step towards self-employment.

The city is also an international leader in terms of knowledge. Munich harbours numerous in-ternationally renowned research institutions, such as the world-famous Fraunhofer Institute, the Max Planck Society and the Helmholtz Center. Its many outstanding universities, colleges, technical colleges and academies and the research facilities create a fertile environment for innovations and ensure the training of highly qualified personnel. A large number of companies have settled in Munich with their research and development departments. No other EU region has filed so many patents with the European Patent Office.