Economic power Jan 03, 2019

Northern Bavaria – a region where you can get rich and be happy

The German Economic Institute (Institut der deutschen Wirtschaft, IW) analysed individual regions in Germany in a study and found that many large cities are overestimated. Rural regions in northern Bavaria are among the winners in the study.

The cost of living in Germany varies greatly depending on the region and is closely related to the local economic structure. In international comparison, Germany benefits from the fact that the strongest companies in the country are not just situated in the big cities, but also in rural regions. So-called SME "hidden champions" don’t just create many jobs but also provide a number of innovations. Due to them being located in rural areas, they’re often not known nationwide and less attention is paid to them than the major car manufacturers or large-scale industries.

Good job prospects, low cost of living and a variety of recreational activities 

According to the German Economic Institute (Institut der Deutschen Wirtschaft, IW), decentralisation ensures both a strong economy and regions with a good quality of life. The current study didn’t just consider the districts but also analysed the respective employment office districts and included the number of vacancies in the respective employment office district.

Some regions have cheap rents and great job opportunities at the same time. The study also considered the relation of housing costs (rent, purchase, ancillary costs) to average incomes. The result for Germany shows: there are twelve regions and districts at the top. But where are these regions?

There are numerous locations in northeastern Bavaria, which have great potential for skilled workers according to this study. Schwandorf, Weiden and Bayreuth-Hof scored particularly well. The Schwandorf district, for example, offers excellent links to the national rail and road network and also has a varied range of recreational and cultural opportunities on offer. Family-friendly living and skilled jobs complete the offer. A selection of attractive highlights in the Schwandorf district can also be found in the latest image film.

The region around Regensburg in the Upper Palatinate was also rated very good. The economy is developing very well here too and many large and small companies are producing new technologies – especially in the digital sector.  This is also corroborated by the German Economic Institute’s study (Institut der deutschen Wirtschaft).