The Austrian corporate landscape features innovative small and medium-sized enterprises, dynamic growth in the number of start-ups and an increasing level of direct investments.
The basis for this success is an economic structure which is characterized by innovative small and medium-sized firms. Only about 190 companies in Austria employ more than 1,000 people. Some 400,000 companies have been established over the last 15 years, with the number continuing to rise.
Even if people tend to associate Austria with art, culture, an intact countryside or vacationing, the country is actually a traditional industrialized country. Although the service sector accounts for the lion’s share or close to 69 percent of the gross value added, the approximately 30 percent of the secondary sector are of considerable importance.
The most important industrial sectors are the chemical and automotive industries, mechanical engineering, electronics, life sciences and environmental technology.