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The city is a major centre of art, advanced technologies, finance, publishing, culture, innovation, education, business, and tourism in Germany and Europe and enjoys a very high standard and quality of living, reaching #1 in Germany and #4 worldwide according to the 2015 Mercer survey.
The postwar period was characterized by American occupation until 1949 and a strong increase of population and economic power during the years of the Wirtschaftswunder (lit.: economic miracle) after 1949.
Unlike many other German cities which were heavily bombed and destroyed during World War II, Munich rebuilt most of its traditional cityscape and added a modern face to the city with the Olympic Stadium, while hosting the 1972 Summer Olympics.
Though the first attempt of the Nazi movement to overtake the German government in 1923 with the Beer Hall Putsch, which was stopped by the Bavarian police in Munich with gunfire, the Nazis declared the city after their rise to power to be Hauptstadt der Bewegung (lit.: "Capital of the movement").
During World War II, Munich was heavily bombed and more than 50% of the entire city and up to 90% of the historic centre were destroyed.
In 1918, during the German Revolution, the ruling house of Wittelsbach, which governed Bavaria since 1180, was forced to abdicate in Munich and a short-living socialist republic was declared.