The pandemic has also brought many companies in the Munich district into financial difficulties. Since July 2020, the self-employed, companies and institutions affected by the Corona crisis have received government grants of around 558 million euros. This is announced by the Chamber of Industry and Commerce (IHK) for Munich and Upper Bavaria. The total includes twelve aid programs, including bridging aid I to IV, restart aid and November and December aid.
A total of more than 12,000 applications were received from the Munich district, most of them from the hospitality industry. According to the IHK, 44 percent of the approved money flowed into this sector. Art, entertainment and recreation follow with a share of 13 percent and other economic services such as travel agencies and event and trade fair organizers with a share of almost ten percent. “The massive sum of subsidies paid shows how badly the economy in the region has suffered in the past two years from the corona pandemic, among other things from government restrictions, and how badly companies were in existential need,” says Christoph freely, chairman of the IHK regional committee Munich country with. The aid programs would have prevented a broad wave of bankruptcies. He is now demanding support from politicians in the area of energy and raw material supply.