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Berlin to go, english edition, 02/2018

NEWS TO GO Support for

NEWS TO GO Support for startups New businesses create the basis for economic growth. In order to render the current support landscape for startups more transparent, the Federal Ministry for Economic Affairs (BMWi) commissioned the Institute for Innovation and Technology (iit) to examine the public and private instruments of non-monetary support available to startups today. In addition to providing an overview of the general support structures, the study also offers information on various national and international trends as well as an evaluation of the different startup support mechanisms. The study also highlights the challenges and opportunities associated with the support services provided to startups by established medium-sized companies. To view the study, visit Apprenticeships make good investments In May 2018, the number of unemployed persons in Berlin was 156,786. That was 3,174 fewer than in April and 11,174 fewer than one year ago. In fact, unemployment has fallen by around 40,000 individuals and around 20% within the last three years. Bernd Becking, Board Chairman of the Berlin-Brandenburg Regional Office of the Federal Employment Agency, had the following to say about the state of the labor market: “The job market in Berlin and Brandenburg is in strong condition. Many companies are looking for employees. Skilled workers are especially in demand. This underscores how important it is – for young people and companies in equal measure – that students complete their vocational training. And this is why we’re calling on employers to provide as many apprenticeships as possible. It’s a good investment in the future.” At the moment, however, 7,976 training spots are still vacant In Berlin. Berlin honored once again How attractive do investors find Europe’s cities? This was one of the key questions involved in this year’s “European Cities and Regions of the Future 2018” ranking, which is published by fDi Magazine, a subsidiary of the British business newspaper The Financial Times. According to the ranking, Berlin came in among the top regions and once again won several distinctions. For example, Berlin was named “Runner-Up: Best for Human Capital and Lifestyle” and received numerous other distinctions in the categories “Major Cities” and “Mid- Sized Regions of the Future.” Illustrations: Konny Strauss Economic growth above 3% For three years now, Berlin’s economy has been growing by more than 3% each year and thus finds itself undergoing a sustained economic boom. In fact, growth in the past four years was recently adjusted upwards as a result of revisions made by the Office of Statistics. Growth is measured in terms of gross domestic product (GDP), and in 2017, Berlin’s GDP was 3.1%, making it almost one percentage point above the national average. For 2018, experts are predicting GDP growth in Berlin of almost 3% (Germany: 2.4%). However, Berlin will most likely reach the peak of its sustained growth cycle very soon; experts are expecting a slight weakening already in 2019. Sluggish gains in industrial activity Positive developments were also seen in terms of industrial activity in Berlin, with the number of orders coming into the city’s industrial sector showing steady growth in early 2018. For example, domestic orders were up by 5.3%, with foreign orders also experiencing a rise (2.7%). In 2017, Berlin’s industrial sector weighed down the city’s 2017 GDP with a decline of €400 million; in 2018, however, experts predict that industry will contribute positively to Berlin’s economic growth, especially considering the recent noticeable upturn in the global economy. With its roughly 10% export share, the United States continues to be Berlin’s largest trading partner and was able to maintain its high pace. Growth in China was also remarkably stable and continues to be high compared to other countries. One risk for world trade, however, is the U.S. trade conflict with China. 35,000 new apartments In the Berlin construction industry, it is possible that the expansion of production will be restricted due to shortages of skilled workers. For this reason, it’s also possible that the strong impulses currently coming from building activity will lead to a dampening of the overall economic expansion in the capital in the coming months. Still, Berlin is expected to have a total of roughly 35,000 newly built apartments in the current and coming year. In 2018, the strongest growth impulses for the Berlin economy continue to come from the service sectors, which most recently reported GDP growth of just under 4%. The largest engine driving this growth is the digital economy, where employees receive above-average wages and where GDP growth amounted to almost 10%. 6 7

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