Hamburg, with a population of 1.8 million is Germany’s second largest city and also one of its sixteen states.
The city has invested massively in research infrastructure and has become a leading technology hub for the likes of materials and processes, digitisation, healthcare, applied sciences and nutrition, energy, climate, environmental protection and marine technology, materials and processes, as well as mobility, transport and logistics. In addition, the Fraunhofer IAPT is synonymous with 3D tech.
Furthermore, Hamburg possesses world-leading maritime and aviation credentials, and constitutes the economic hub of the North Sea and Baltic region.
Meanwhile, Hamburg’s port is a constant hive of activity, ranking third in Europe and 17th globally, which, despite being over 100km from the mouth of the river Elbe is able to handle the largest ocean-going vessels.
HafenCity, in the Hamburg-Mitte district, is Europe’s largest urban development project.
Specifically, heavy industry includes steel, aluminium and copper making, shipbuilding and the jewel in the crown: the Airbus assembly plant, employing over 13,000 people.
On top of this, HafenCity, in the Hamburg-Mitte district, is Europe’s largest urban development project, so enriching further the opportunities for investors, while infrastructurally, Hamburg is well-served with excellent road, rail and air links.
Added to this is Hamburg’s status as a ready alternative to the UK for international companies wishing to relocate because of Brexit, given its excellent access to markets, robust yet business-friendly legislation, cost competitiveness, academic credentials and excellent IT infrastructure. In addition, a pedigree of innovation and spirit of cooperation prevails, exemplified by cutting-edge R&D locations such as CFK Valley Stade, LZN, ZAL Tech Center, XFEL, DESY, amongst many others.
Of additional note is Hamburg’s popularity with Chinese and US companies, as well as its status as perhaps the primary location for Asia-related expertise, evidenced not least by it playing host to over 500 Chinese companies and 50 from Taiwan.
Meanwhile, there is a booming tourism sector and numerous hotel investment opportunities, especially in respect of conference and congress hotels for the MICE market, with the Hamburg Senate supporting a needs-oriented increase in accommodation capacity. As a result, hotel occupancy in Hamburg is at almost 80%, placing it in the top spot in Germany, while latest results show over a 30% increase in overnight stays from guests from China. Additionally, the 2020 opening of a new improved Congress Center Hamburg (CCH) with new spaces for events, excellent transport links and ready access to the rest of the city, as well as openings of the Westin, the Fontenay and Elbphilarmonie Hamburg, add further weight to the city’s credentials.
‘High-end and international markets are currently under represented in Hamburg’s hotel scene.’
It is worth noting that the high-end and international markets are currently under represented in Hamburg’s hotel scene, and that there are many opportunities for investors, including those away from the centre, especially in Harburg.
Hamburg Invest, meanwhile, enjoys the status as a single point of contact to help organisations maximise efficiency, productivity and profitability, through the provision of advice and support in numerous languages across a number of areas, whether that’s establishing a company, sourcing legal and tax services, assistance in securing appropriate commercial real estate, or permit and visa advice. Moreover, its office’s assistance extends beyond set-up into the early stages of development and beyond to help ensure new business prospers, so further cementing Hamburg’s reputation in the hearts and minds of investors, particularly those looking to relocate from the UK, where Hamburg Invest can act as their partner to oil the wheels.