The United States of America is the world’s largest economy with a nominal GDP of 17.8 trillion Euros (2019). Close to 1/4 of the world’s 500 largest companies are headquartered in the US, demonstrating the global impact of the robust economy. Due to its highly diversified industries, which range from petroleum, vehicles, telecommunications, aerospace, chemicals to electronics, and many more, the US remains the second-largest exporting nation worldwide. The country’s six largest trading partners are Canada, Mexico, China, U.K, Japan, and Germany, which is the United States’ largest trade partner within the European Union. Among the 27 EU member states, Germany has remained the largest importer to the USA by far, reaching €108 billion in 2019.
Silicon Valley, which is home to world-renowned companies such as Google, Facebook, Netflix, Yahoo, Apple, and countless startups, is seen as the center of innovation in the tech industry. In this region, the investment volume in technology, the internet, and mobile is the highest in the world. These sectors are mainly boosted by the cloud and mobile industries, which have contributed to high revenues in the past and will very likely continue in the future.
Bavaria is well represented in the western US. Some of the world's fastest-growing unicorns and tech giants like Amazon's AWS, Palantir, Cloudflare, Joby Aviation, Lyft, Uber, Slack originate there and have pursued expansion to Bavaria in recent years. This region is also home to some of the most vibrant Startup-Ecosystems in the world:
- San Francisco / Silicon Valley - The nine-county region boasts a €445bn GDP and ranks 19th among the world’s economies. The area accounts for one-third of all venture capital investment in the US, which has helped it to become the leading hub and startup ecosystem for high-tech innovation.
- Austin - The emerging tech hub accounts for a €132bn GDP and has become one of the hottest relocation hotspots for tech talent during the COVID-19 pandemic. Google, Facebook, Atlassian, and Oracle have thousands of workers in Austin collectively and Apple is investing $1 billion for a new campus there.
- Seattle - Home to tech-giants Microsoft and Amazon, the Seattle region boats a GDP of €318bn and is rated by Forbes as the “best city for business,” likely due to a booming economy, educated workforce, and large millennial population.
- Denver/Boulder - The Denver region ranks in the top 10 for most moved to U.S. cities during the COVID-19 pandemic, according to Bloomberg. Companies like Facebook, Amazon, and Google have offices in the area and contribute to the €168bn GDP that attracts high profile tech talent.
- Los Angeles - Los Angeles is a world center of business, international trade, entertainment, culture, media, technology, and education. As the home base of Hollywood, it is known as the ”Entertainment Capital of the World,” leading the world in the creation of motion pictures, television production, video gaming, and recorded music. It is no surprise that a €799bn GDP strong metro area is also the country’s fastest-growing tech ecosystem.
- San Diego - A hotspot for international trade, research, manufacturing, defense, and tourism makes the city one of the most prosperous locations on the West Coast for startups. Home to one of the largest biotech ecosystems, the region generated a GDP of €171bn in 2019.
- Portland - The city occupies the center stage in the state’s positive economic health as a hotbed for many industries including technology, athletic and outdoor apparel, healthcare, and manufacturing. The so-called “Silicon Forest” has become one of America's hottest destinations for entrepreneurs - thanks in part to its vibrant startup scene.