The city was first mentioned in 1158. Catholic Munich strongly resisted the Reformation and was a political point of divergence during the resulting Thirty Years' War, but remained physically untouched despite an occupation by the Protestant Swedes. Once Bavaria was established as a sovereign kingdom in 1806, Munich became a major European centre of arts, architecture, culture and science. In 1918, during the German Revolution, the ruling house of Wittelsbach, which had governed Bavaria since 1180, was forced to abdicate in Munich and a short-lived socialist republic was declared. In the 1920s, Munich became home to several political factions, among them the NSDAP. After the Nazis' rise to power, Munich was declared their "Capital of the Movement". The city was heavily bombed during World War II, but has restored most of its traditional cityscape. After the end of postwar American occupation in 1949, there was a great increase in population and economic power during the years of Wirtschaftswunder, or "economic miracle". The city hosted the 1972 Summer Olympics and was one of the host cities of the 1974 and 2006 FIFA World Cups.
Today, Munich is a global centre of art, science, technology, finance, publishing, culture, innovation, education, business, and tourism and enjoys a very high standard and quality of living, reaching first in Germany and third worldwide according to the 2018 Mercer survey, and being rated the world's most liveable city by the Monocle's Quality of Life Survey 2018. According to the Globalization and World Rankings Research Institute, Munich is considered an alpha-world city, as of 2015. It is one of the most prosperous and fastest growing cities in Germany.
Munich's economy is based on high tech, automobiles, the service sector and creative industries, as well as IT, biotechnology, engineering and electronics among many others. The city houses many multinational companies, such as BMW, Siemens, MAN, Linde, Allianz and MunichRE. It is also home to two research universities, a multitude of scientific institutions, and world class technology and science museums like the Deutsches Museum and BMW Museum. Munich's numerous architectural and cultural attractions, sports events, exhibitions and its annual Oktoberfest attract considerable tourism. The city is home to more than 530,000 people of foreign background, making up 37.7% of its population.