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The "mental closeness" of Austria to its neighbours is an important advantage for establishing new business contacts.
Professor Arnold Schuh (Vienna University of Economics and Business) shares his insights on the economic recovery in CEE.
Close to 40,000 new companies were founded in Austria in the year 2019. More than 9,000 of them, or close to one-quarter of the total, were established in the capital city of Vienna, making it the startup leader. 20 years ago the number of companies founded in Austria was less than 20,000 (Austrian Federal Economic Chamber). It is clear to see that Austria has become more attractive as a business location. Why is this the case? What the reasons for establishing a company or startup in Austria?