Dresden, also known as the Florence of Germany due to its location along the banks of river Elbe, is the capital city of the Free State of Saxony (Freistaat Sachsen) in eastern Germany. Widely known for its historical importance as a major transport hub for Nazi Germany, and the destruction it suffered after the bombings of World War II by the US and Britain, modern Dresden is Germany's scientific center. Hence, scientists, researchers, and scholars stand great chances of being absorbed by the city's large job market in the sectors of science, engineering, and medicine. Dresden's economy is based on three main pillars, which are the semiconductor industry, the pharmaceutical industry, and electrical and mechanical engineering. However, many other sectors, such as automotive manufacturing, high technology, biotechnology, nanotechnology, and microelectronic technology, also contribute to Dresden's economic development and growth. The city is home to 11 higher education institutions (e.g., the University of Applied Sciences Dresden, the International University of Dresden, and Technische Universität Dresden), hosting about 45,000 students, 68% of which study in Technische Universität Dresden (TUD). Dresden is a cultural center as well, attracting millions of visitors every year from Germany and abroad. This kind of movement contributes to the city's economy and allows it to offer employability in the hospitality sector (there are over 100 hotels, guest houses, and hostels in Dresden). Last,  given that it is the capital of Saxony, most of the region's government and healthcare institutions are in Dresden. Among the major companies operating in Dresden are Volkswagen Sachsen, Globalfoundries Dresden Module, Infineon Technologies, Saxon Serumwerk Dresden, Noweda Pharma-Handels, Dresden Arzneimittelwerke, Siemens, and Linde-KCA-Dresden. The unemployment rate of Dresden stood at 2.40 in July 2022, while the unemployment rate of Germany was at 3.0%. The purchasing power of the people of the Free State of Saxony is 28,600 euros per inhabitant, which is 92% of the EU average, thus ranking ahead of all Central and Eastern European countries. There are about 56,650 companies in Saxony in different sectors, such as manufacturing, building, trade, and services. In 2019, the exports came up to 40.3 billion euros. China is the bigger buyer with exports of more than seven billion euros, just before the USA with three billion euros. The excellent transport infrastructure benefits the efficient mobility of people and goods. If you are planning to move to Dresden for work, it's good to know that Dresden offers relatively easy opportunities to find nice and inexpensive apartments. However, most of the apartments in Dresden are not furnished, and it is up to the new tenants to get house appliances. The cost of living in Dresden is lower than in other larger German cities, such as Munich, Frankfurt, Berlin, and Hamburg. Dresden is where Europe's heart of the microelectronics industry (where digital convergence originates from) beats, including the sectors of nanotechnology, life sciences, development and safety of new-generation materials, and energy. In no other German city of Dresden's size, there are so many scientists and research institutions (46 in total). In Dresden, you will find companies with years of experience and expertise in mechanical engineering, aircraft construction, and food production. The title of University of Excellence is given to selected universities in Germany as part of the Federal Government's and German states' Excellence Strategy, aiming to promote cutting-edge research through millions of euros in additional funding and knowledge sharing among first-class higher education institutions worldwide. Technische Universität Dresden (TUD) earned the title the University of Excellence in 2012 for groundbreaking research in cell and development biology (i.e., molecular bioengineering, regenerative medicine, tissue engineering), quantum mechanics at the atomic level, and AI for machine-human collaboration. The University Hospital Carl Gustav Carus was founded as a surgical medical academy in 1815 by Friedrich August I., King of Saxony. Today, it is part of the Technische Universität Dresden (TUD), and besides having 3500 experts in all specialties, it is an excellent teaching hospital with facilities for interdisciplinary medical research. Another life sciences research institution is the Max Planck Institute of Molecular Cell Biology and Genetics.