According to a report published by the Berlin-Brandenburg Office for Statistics on Friday, the gross domestic product of the German capital grew by 3.7 percent compared to the same period last year. In neighboring Brandenburg, 3.1 percent growth was reported. Nationwide, growth of 2.8 percent was reported.
Berlin economy grows faster than national average
Berlin's economy grew faster than the national average in the first half of 2022.
Increase in economic output after end of Covid-19 restrictions
The lifting of many Coronavirus-related restrictions in the spring resulted in an increase in economic output in almost all service sectors, according to statisticians. This was especially true for the hospitality industry in the capital region, which was hit hard in the first two years of the pandemic, and for manufacturing in Brandenburg.
"A lot of sectors are back to full speed."
"Our economy has made a strong recovery in the first six months of the year," Berlin's Economics Senator Stephan Schwarz commented on the still preliminary results on the economic trend. "Many sectors are running at full speed again." Thousands of new jobs have been created, he said, especially in the service sector and in Berlin's innovation and technology sectors.
Comeback of the tourism industry
The tourism and events industry has also experienced a comeback of sorts. "Hotels were fuller in the summer than in New York, Paris or London," Schwarz said. According to him, the 330 million euros for the so-called restart measures of the Berlin Senate were money well spent and the Operation Restart for the economy had succeeded. "This sends an extremely important signal right now," the senator said. "Berlin is not stumbling into the new crisis, but can tackle it stronger."
Aid program for Berlin businesses in the energy crisis
Schwarz announced that Berlin's companies and businesses would not be left alone in the energy crisis. The state's own aid program is to flank the federal government's relief measures for companies. "We urgently need more clarity and speed from the federal government here," Schwarz demanded. "For me, that also means an energy price brake."