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Blog | 23. Februar 2018

BERLIN’S BUSINESSES REAP THE REWARDS OF THE ECONOMIC UPSWING

For Berlin’s businesses, all signs point to “Go”. Whether tourism, hospitality, construction or retail – all of these sectors are on an impressive growth trajectory. In the first nine months of last year, Berlin’s retail trade grew by 7.8% in nominal terms and was able to score above the national average of just 4.8%. The hotel and restaurant sector also reported increased revenues, which were up by 3.4%.

The fact that Berlin is always worth a visit is reflected in figures from accommodation providers, who generated a nominal increase in revenues of 5.8% over three quarters. By late summer 2017, almost ten million guests had visited the booming capital – around 2.9% more than at the end of September 2016. In absolute terms, this represented an increase of almost 290,000 overnight guests in Berlin’s hotels. Incidentally, Americans, Russians and Chinese were particularly attracted to the City on the Spree. The number of visitors from these three countries rose by a total of 38.6%. Restaurant owners also benefited from the boom in visitor numbers and enjoyed growth that was 2% higher than in the same period last year. Caterers and food service companies even managed to deliver growth of 5.8%, thanks to the growing number of major events in Berlin and increasing demand from day nurseries, schools, refugee shelters and universities.

 

SURGE IN BUSINESS REGISTRATIONS

The positive news from Berlin’s trade authorities fits in well with this. In the third quarter of 2017 alone, they processed 11,625 business registrations, 13.1% more than in late summer of the previous year. The construction industry, retail and the automobile repair shops were particularly active. Of these freshly registered companies, 92.4% were new businesses.

 

MORE AND MORE JOBS FOR BERLINERS

In view of such success stories, it is hardly surprising that the labor market is also expanding. By the end of October 2017, employment had increased by 4.2%, or almost 59,000 people. This was a new record for the German capital, which has delivered the highest employment growth rates in Germany for almost six years in a row. By way of comparison, employment was only up by 1.5% nationally. For example, Berlin’s retail sector recruited 4.1% more personnel, 3.4% of which are full-time employees. The hospitality industry grew its workforce by 1.2%, while Berlin’s hotels and guesthouses had 2.9% more employees by the end of September.

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Blog | 23. Februar 2018

BERLIN’S BUSINESSES REAP THE REWARDS OF THE ECONOMIC UPSWING

For Berlin’s businesses, all signs point to “Go”. Whether tourism, hospitality, construction or retail – all of these sectors are on an impressive growth trajectory. In the first nine months of last year, Berlin’s retail trade grew by 7.8% in nominal terms and was able to score above the national average of just 4.8%. The hotel and restaurant sector also reported increased revenues, which were up by 3.4%.

The fact that Berlin is always worth a visit is reflected in figures from accommodation providers, who generated a nominal increase in revenues of 5.8% over three quarters. By late summer 2017, almost ten million guests had visited the booming capital – around 2.9% more than at the end of September 2016. In absolute terms, this represented an increase of almost 290,000 overnight guests in Berlin’s hotels. Incidentally, Americans, Russians and Chinese were particularly attracted to the City on the Spree. The number of visitors from these three countries rose by a total of 38.6%. Restaurant owners also benefited from the boom in visitor numbers and enjoyed growth that was 2% higher than in the same period last year. Caterers and food service companies even managed to deliver growth of 5.8%, thanks to the growing number of major events in Berlin and increasing demand from day nurseries, schools, refugee shelters and universities.

 

SURGE IN BUSINESS REGISTRATIONS

The positive news from Berlin’s trade authorities fits in well with this. In the third quarter of 2017 alone, they processed 11,625 business registrations, 13.1% more than in late summer of the previous year. The construction industry, retail and the automobile repair shops were particularly active. Of these freshly registered companies, 92.4% were new businesses.

 

MORE AND MORE JOBS FOR BERLINERS

In view of such success stories, it is hardly surprising that the labor market is also expanding. By the end of October 2017, employment had increased by 4.2%, or almost 59,000 people. This was a new record for the German capital, which has delivered the highest employment growth rates in Germany for almost six years in a row. By way of comparison, employment was only up by 1.5% nationally. For example, Berlin’s retail sector recruited 4.1% more personnel, 3.4% of which are full-time employees. The hospitality industry grew its workforce by 1.2%, while Berlin’s hotels and guesthouses had 2.9% more employees by the end of September.

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