GICS Core

GICS Core is the top-level perspective within the Sector Intelligence of the G11 General Industry Compass System. This level is deliberately set at a distance and provides an overarching view of the central structures of the global economy.
The focus of GICS Core as the TIER 1 level of the G11 General Industry Compass System is on broadly defined economic sectors as stable organizational units. Instead of detailed subdivisions, the focus is on classifying economic activities into a few, sustainable categories that serve as a long-term frame of reference. The helicopter perspective of GICS Core opens up space for fundamental questions: How do weights shift between sectors? Which structures characterize entire sectors across economic cycles? And which sectoral dependencies only become visible from a distance?

The focus of GICS Core as the TIER 1 level of the G11 General Industry Compass System is on broadly defined economic sectors as stable classification units. Instead of detailed subdivisions, the aim is to classify economic activities into a few viable categories that serve as a long-term frame of reference.

The helicopter perspective of GICS Core opens up space for fundamental questions:

  • How do weights shift between sectors?
  • What structures shape entire industries across economic cycles?
  • And which sectoral dependencies only become visible from a distance?
EST.: I/MMXXV
The real estate sector brings together companies that deal with real estate as an economic resource. The focus is on the ownership, development, use and management of buildings and areas that serve as living space, working environments, infrastructure or investment properties. Real estate is an asset sector based on location and use. The companies grouped here create, manage or finance physical spaces in which economic and social activities take place. Real estate fulfills a dual function: it is both a basis for use and an investment. The sector is characterized by its long-term orientation. Investment decisions are capital-intensive, highly location-specific and have an impact over long periods of time. Demand arises from structural factors such as population development, urbanization, forms of work and economic use, rather than from short-term market movements. Real estate operates at the interface between business, financing and use. Rental income, value development, occupancy and management determine the economic logic, while regulatory requirements, the interest rate environment and financing conditions have a significant influence on income and valuation. The sector is also broadly based in terms of content. It ranges from residential and commercial properties through specialized properties to infrastructural and functional areas. Despite this diversity, all areas share a dependence on location quality, useful life and long-term planning. Within GICS Eleven, real estate forms the spatial frame of reference among the CORE sectors. It links real use with capital commitment and serves as a stable basis for topics relating to living, working, infrastructure and real estate-related value creation - regardless of economic or technological cycles.

GICS Core acts as a strategic thinking space within the General Industry Compass system. The perspective provides orientation without simplifying and creates a common basis on which further perspectives - such as Trending or Microsectors - can be built upon in a targeted manner.


GICS Core is deliberately designed as an introductory and reference level.
The perspective is aimed at users who initially want to get their bearings, grasp interrelationships and understand sectoral structures in a broader economic context without committing to detailed analyses at an early stage.

As an organizing framework, GICS Core is particularly suitable:

  • as a conceptual haven of peace within the GICS family,
  • as a common reference level for cross-references to in-depth content,
  • as well as a conceptual starting point for further perspectives such as GICS Trending or GICS Microsectors.

The level thus serves less for operational analysis and more for strategic classification - it creates an overview, promotes systemic thinking and lays the foundation for in-depth discussion along downstream perspectives.