Leipzig, Germany Economy

By | December 24, 2021

Leipzig, independent city in Saxony, an average of 118 m above sea level, in the Leipzig lowland bay at the confluence of the Parthe, Pleiße and Weißer Elster rivers, (2019) 593 100 residents.

The central location of Leipzig within Central Europe has greatly favored the development of traffic and the diverse trade relations and created the basis for the development of the city into a science, culture, trade (Germany’s oldest trade fair location) and economic center. Leipzig is the seat of the Federal Administrative Court (since 2002), the Constitutional Court of the Free State of Saxony and the Finance Court and, since 1997, the 5th Criminal Senate of the Federal Court of Justice.

Important institutions of science, education and culture are: Saxon Academy of Sciences in Leipzig, University (founded in 1409, 1953–90 Karl Marx University), the German Literature Institute, University of Technology, Economy and Culture (University of Applied Sciences), University of Music and Theater “Felix Mendelssohn Bartholdy”, University of Graphics and Book Art, State Study Academy Leipzig – University of Cooperative Education Saxony, several private, state-recognized universities (HHL Leipzig Graduate School of Management, HfTL University of Telecommunications; three Max Planck Institutes (for cognitive and neurosciences, for mathematics in the natural sciences and for evolutionary anthropology), Fraunhofer Institute for Cell Therapy and Immunology IZI, Fraunhofer Center for Central and Eastern Europe MOEZ, Helmholtz Center for Environmental Research UFZ, Leibniz Institute for Regional Geography IfL, Leibniz Institute for Surface Modification IOM, Leibniz Institute for Tropospheric Research TROPOS and others. Research institutes. The Free Art Academy, the Administration and Business Academy (part-time), the German National Library, the University Library, the Leipzig Bach Archive (research institute and museum on Johann Sebastian Bach) and the House of Books should also be mentioned.

Leipzig has a diverse museum landscape with the German Museum of Books and Writing, the City History Museum, museums in the GRASSI (Museum of Applied Arts, Ethnology, Musical Instruments), Museum of Fine Arts, Gallery of Contemporary Art, Panometer (with changing panorama images), Contemporary History Forum among others Museums. Other important cultural institutions are the opera with musical comedy and ballet, the Gewandhaus orchestra, and the St. Thomas’ choir, several theaters, cabaret Leipziger Pfeffermühle, media center (since 2000 »Media City«). Leipzig is the seat of the Mitteldeutscher Rundfunk (high-rise broadcasting center since 2000). The newly built “Arena Leipzig” multi-purpose hall (opened in 2002; for 12,000 spectators) and the stadium (originally for 100,000, after renovation 2000–2003 for 45,000 spectators) are located near the former university for physical culture), in the Leipzig floodplain forest the racecourse. The traditional Leipzig Zoo is located in the city center, northwest of the old town.

Economy: After German reunification, Leipzig developed into one of the leading business locations and into a financial, trade and service metropolis in the new federal states as well as an important media location. Industrial production fell sharply after 1990 in favor of the service sector. Numerous credit institutes and companies from the energy industry, information technology and logistics are represented in the city. The most important branches of industry are vehicle construction (BMW AG, Porsche AG), Printing machine, machine tool, conveyor and lifting equipment construction, medical-technical device construction, electrotechnical-electronic industry; piano making is a specific craft. The once important printing industry (Grafisches Viertel in the Ostvorstadt) declined considerably after 1990, as did the economic importance of the publishing houses. Many companies moved to the numerous industrial areas on the outskirts and in the vicinity of Leipzig. Lignite mining in the opencast mine on the southern city limits was stopped in 1992. In 2008, an air freight logistics center operated by the post office subsidiary DHL went into operation at Leipzig / Halle Airport.

Leipzig was a universal German trade fair location until 1947 (when the Hanover trade fair location came into being), and during the GDR era it was particularly the center of East-West trade. The Leipziger Messe, which emerged from the markets attested to around 1165 (granting of the trade fair privilege in 1497 and 1507 by Emperor Maximilian I) and already the most important goods fair in Germany in the 18th century, became a sample fair in 1895, which was held annually in spring and autumn until 1991 as a universal fair became. Since then, trade fairs (including the Leipzig Book Fair) have taken place throughout the year; In April 1996 the previous exhibition center in the south-east of the city was opened after a three-year construction period (management: architects Gerkan, Marg & Partner) replaced by the »New Trade Fair« in the north of Leipzig (102,500 m 2 of covered exhibition space and 3,000 m 2 of open space). The Leipzig tobacco shop, formerly the most important worldwide next to the London and the New Yorker, moved mainly to the Frankfurt am Main area after 1945 and became insignificant after 1989.

Over 10% of the urban area is taken up by forests and bodies of water, including the alluvial forest that runs through the urban area from northwest to south. (Agricultural exhibitions Recreation Park), to the west a recreational area at 1.5 kilometers south of the city, the 120-hectare Fair Leipzig-Markkleeberg covers two large Kulkwitzer lake, the city partially belongs to the Leipzig, south and Others.. the Cospudener See (Markkleeberg) with the amusement park »Belantis« (opening April 2003) on the southwestern bank. In 2000, Leipzig was the decentralized location of the world exhibition “EXPO 2000”. Leipzig is a popular city trip destination; In 2017, 1.71 million visitors and 3.17 million overnight stays were counted.

Leipzig is a railway junction and has had an S-Bahn since 1969. In December 2013, the Leipzig City Tunnel was put into operation to reorganize the S-Bahn network. The international airport is Leipzig-Halle near Schkeuditz (2017: 2.37 million passengers).

Leipzig, Germany Economy