Is Frankfurt more than just finance?

Frankfurt is famed for its skyline, dominated by skyscrapers topped with logos of well known banks. It is also the only city in the world home to two Central Banks – the ECB and German National Bank. But Frankfurt has also grown rapidly in the last 20 years and attracted many international companies but also a growing number of start-ups.

So what industries are prominent in the city?

  1. Financial services: Frankfurt is known as the financial centre of Germany, and is home to the headquarters of the European Central Bank, Deutsche Bank, and many other financial institutions. Approximately 31% of Frankfurt’s economy is made up of financial services, including banking, insurance, and other financial activities.
  2. Technology: The city has a growing technology sector, with many startups and established companies working in areas such as software development, fintech, and biotechnology. The sector is responsible for about 6% of the economy but growing rapidly.
  3. Logistics and transportation: Frankfurt is an important transportation hub in Europe, with a large airport and a major train station. The city is also home to many logistics companies and warehouses in total accounting for around 16% of the city’s economy.
  4. Consulting and professional services: Many consulting and professional services firms have a presence in Frankfurt, including accounting, law, and management consulting firms and account for around 16% of the city’s economy.
  5. Education: Frankfurt is home to one of the countries largest and top ranked and best funded universities, Goethe Uni, with over 40,000 students. However the city also has a University of Applied Science with 25,000 students, as well as a number of smaller specialist universities for music, business, and creative arts. For a city of only 700,000, more than 10% being students makes for a lively nightlife!
  6. Manufacturing: Manufacturing, including automotive, machinery, and other industrial activities, accounts for around 5% of Frankfurt’s economy.
  7. Healthcare and life sciences: The healthcare and life sciences industry, including hospitals, clinics, and research institutions, makes up around 4% of Frankfurt’s economy.
  8. Tourism and hospitality: Frankfurt is a popular tourist destination, with many hotels, restaurants, and other hospitality businesses located in the city and accounts for around 10% of the city’s economy.

So, next time you go out in Frankfurt and meet a group of bankers, now you know, there are lots of them, but still in a minority!

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