By using our website, you are agreeing to cookies being stored and Google Analytics being used on your device in order to offer the best possible service. You can find more information on thishere.
Austria.
Dynamic Business Location.

Europe as a business location: Austria is well positioned

The almost global lockdown in the spring of this year has shown many companies how risky it is to be dependent on a few or one supplier at the other end of the world. This has led CEOs to rethink their strategies. In a recent survey, two-thirds of the managers interviewed assume that Europe will gain in importance as a production location as a consequence of the coronavirus. Accordingly, two-thirds of the business leaders expect higher investments in the production location of Europe. 300 managing directors and CEOs of companies in Germany, Austria, Switzerland, Italy and Great Britain with more than 250 employees were interviewed on behalf of ABA – Invest in Austria.

Most important business location factors

The majority of the top managers expect companies to strive for a diversification of their supply chains in response to their experiences during the coronavirus crisis. The cost factor has tended to lose in importance in selecting a business location. In the minds of the CEOs, unit labour costs as well as economic growth and good transport connections have faded somewhat into the background as crucial factors determining the choice of a production and business location.

From the point of view of the European managers, the degree of digitalisation and the overall research quota of the countries are the business location factors that will gain in importance the most in the future. Other key factors impacting future decisions are energy supply security, the availability of good skilled labour as well as income and corporate tax rates. The managers believe the planned climate protection measures will be a driving force for the economy. Austria is in the forefront when it comes to renewable energies.

Business location of the future

Accordingly, we are witnessing a change in the corporate mindset. Unit labour costs are playing a less important role, whereas greater importance is being attached to the diversification of risks. Europe now has the opportunity to become increasingly significant as a production location. 95 percent of the managers surveyed from the DACH region already regard Austria today as a business location of the future, which scores points thanks to its business-oriented educational system. Vocational and higher technical schools train highly qualified technical professionals, who are definitely less expensive to employ than university graduates thus offering decisive advantages to companies involved in production and research.

Austria is well positioned

From the point of view of the European managers, political and social stability is of particular importance in addition to energy supply security. I believe Austria has been upgraded in the mix of business location factors thanks to the growing importance placed upon factors such as stability and security. Austria offers the best conditions for profitable investments in the future thanks to the second highest research to GDP rate within the EU and the digitalisation drive for companies. ABA – Invest in Austria will be happy to inform you about other business location factors and will provide professional support to you at no charge in setting up business operations in Austria.

Read more about the topic of Research and Development in Austria.

 

Mag. Marion Biber

Managing Director Invest in Austria
+43-1-588-58-232 or +43-664-2885802
m.biber@aba.gv.at

Share on Facebook Share on Facebook Share on Twitter Share on Twitter Share on Linkedin Share on Linkedin

Testimonials

Events

Meet us at events, seminars and trade shows - worldwide.

  • Meet us @ ARIT — Austrian Research & Innovation Talk

    18.09.2021/ 9.00am - 4.00pm EDT, Convene 600 14th St NW Washington, DC 20005 or via livestream

  • TECHNOLOGY CAMPUS TIROL

    22.09.2021/ 11.30 Uhr, LA Villa Starnberger See/ Ferdinand-von-Miller-Straße 39-41, 82343 Niederpöcking

Austria Map

Find the perfect location for your company

Vienna’s unique location at the heart of Europe makes it an important centre and very popular with the global pharmaceutical and biotechnology industry. Vienna is where Eastern Europe meets Western Europe. Businesses located at this international hub benefit from well-established infrastructures and highly-qualified professionals. The significant growth in the Life Sciences sector in Vienna over the last few years is an indicator of the momentum in the industry.

ABF Pharmaceutical Services

ABF Pharmaceutical Services
More testimonials

news from the business location Austria

Smurfit Kappa launches district heat project

Just under a year after the new energy systems went into operation, the next major sustainability project relating to the facility in Upper Austria is already in the starting blocks for the Irish group Smurfit Kappa Nettingsdorf.

Corona Tracking: New Encryption Technology Ensures Data Protection

The “Corona Heatmap” developed by the Know-Center and the Graz University of Technology shows where people who tested positive for the coronavirus were before the diagnosis i.e., the precise location where they got infected. In this way, conclusions can be drawn about coronavirus hotspots. An innovative process the interface between cryptography and data analysis ensures the necessary data protection.

More news All blog posts