Frankfurt: Europe’s Economic Powerhouse
At the end of the Second World War Germany was divided into four zones, each under the control of Great Britain, The United States of America and the Soviet Union.
The most lasting legacy of this division was the beginning of the Cold War and the Iron Curtain that divided Western Europe from the expansive Communist East.
The pinnacle moment in history marking the end of the division of East and West Germany was the fall of the Berlin Wall on 9th November 1989 and the subsequent collapse of the Soviet Union two years later.
Apart from Berlin, there are few German cities that bears the hallmarks of the past stewardship, but in the heart of the country Frankfurt is a keen reflection of its past as part of the zone controlled by the United States.
It is the Economic heart of Europe; the German Federal Bank and the European Central Bank are based here and some of the world’s biggest trade fairs and conferences take place here.
Frankfurt is the main financial centre of Germany, with 365,000 companies in the region contributing more than 200 billion euros to the country’s GDP, and around 90% of all Germany’s stock trading takes place here, with up to 30 billion euros passing through the Frankfurt Stock Exchange every day.
More than half of the 248 credit institutions in the City are foreign banks with 18 of the world’s biggest 25 choosing Frankfurt as a European base.
Global meeting place
Messe Frankfurt is the third largest exhibition and conference space in the world with more than half-a-million square metres of space spread over nine cavernous halls.
Around 30 global trade fairs and exhibitions take place here including the International Automobile Exhibition which takes place from 12th-22nd September 2013, and the world’s biggest consumer trade fairs Ambiente and Premiere.
Event such as these are vital to a city that has more than 10,000 retail and wholesale companies employing tens of thousands of people. This in turn translates into benefits to other businesses in the city.
Retail and tourism
Tourism thrives here, especially at times of big conference when Frankfurt’s hotels get booked-up months in advance by delegates and enthusiasts – especially for Musikmesse, a leading music business fair with everything from workshops and discussions, to concerts and demonstrations.
Zeil pedestrian zone between the Hauptwache and Konstablerwache is Germany’s biggest shopping street. Once it was a cattle market in the 14th century, now it’s the MyZeil mall which is as much an architectural marvel as it is a shopping paradise.
The spider web glass caves inward creating a funnel creating a sense of perpetual movement – it has Europe’s longest shopping mall escalator with access to all six storeys of the magnificent architecture.
The Frankfurt skyline has a striking resemblance to some of its American counterparts, something the city is so proud of in fact that on the 25th and 26th May 2013 is the Wolkenkratzer Festival, a weekend dedicated to celebrating the city’s skyscrapers, with sky divers and base jumpers leaping from the gleaming heights.
Frankfurt is truly one of the iconic cities of the 21st century.
Catherine Halsey writes for a digital marketing agency on a range of subjects. This article links back to https://www.jumeirah.com/en/Hotels-and-Resorts/Destinations/Frankfurt/Jumeirah-Frankfurt/