Berlin Is The Only Capital In Europe That Drags Its Country’s Economy Down
Not that long ago, Klaus Wowereit, the former mayor of Berlin, called the city “poor and sexy.” And this label isn’t without merit. For those who’ve never seen it first hand, it can also be described as the most non-German city in Germany. That’s mainly because it was completely devastated during WWII, and much of its buildings were built after. So, if you want to see an authentic Germany, then Berlin may not be the city for you.
Anyway, Berlin also has a unique history after the war, with it being divided into two parts, and its architecture is a testament to this. After the reunification of Germany in 1989, the richer western half also united with the poorer eastern half and the city received tremendous government subsidies since then.
Nevertheless, Berlin still has a much higher unemployment rate than the rest of the country, even if it has since rebranded itself as the country’s IT hub. But according to a somewhat recent study conducted by The Cologne Institute for Economic Research, it turns out that it is the only capital city in Europe that hinders its respective country’s per capita GDP.
If, for instance, the UK were to lose London, every British citizen would become 11% poorer than they are now. The French, on the other hand, would lose 15% without Paris, while Greece would be almost 20% poorer without Athens.
But when it comes to Berlin, however, the average German citizen would actually become 0.2% richer, if somehow its capital would cease to exist. But this can also be seen from another perspective. Berlin still has a lot of things going for it, and it is, without a doubt, a wealthier city than Athens overall. But while Greece’s big financial and industrial headquarters are located in its capital, Germany’s economy is more evenly spread out. Frankfurt is still the financial heart of the nation, while other places like Bavaria, hold many industrial giants like BMW or Siemens.