Vienna is the economic heart of Austria and home to over 200 multinational corporation headquarters. More than two thirds of all international activities have been concentrating in the country’s capital for many years: Oesterreichische Nationalbank (OeNB), for example, estimates the total value of all foreign enterprises in Vienna at EUR 75 billion and more than 100,000 employees. Vienna has the highest quality of life in the world and was awarded as the “most prosperous city” by the United Nations. Its high productivity ranks Vienna also among the top regions of the EU – many enterprises appreciate the city’s location as a hub and access point to CEE markets. Its infrastructure, e.g. Vienna International Airport, is excellent and even features the global internet exchange point VIX. About 1,000 R & D companies have secured Vienna the position as Austria’s research center. With a research ratio of 3.5 percent, Vienna is once again one of the leading regions in the EU.
Vienna is home to some 200,000 students and 20 universities, turning the city into the largest location of tertiary studies in the entire German-speaking region and among the most important student cities in the world. While one out of every two Viennese residents between 19 and 26 years is enrolled at a tertiary institution, one out of every four students comes from abroad. Following in the footsteps of 650 years of tradition at the University of Vienna, which has produced several Nobel laureates, research and development play a significant role in Vienna – which directly benefits business located in Vienna as well. Also in terms of professional training, Vienna and its dual education system can look back on a long history of focusing on highest quality.
University of Vienna: www.univie.ac.at
- Technical University of Vienna: www.tuwien.ac.at
University of Natural Ressources and Life Sciences, Vienna: www.boku.ac.at
- Vienna University of Economics and Business: www.wu.ac.at
Vienna is the Central European center for basic and applied research with about 40,000 individuals, about 5 percent of those employed in Vienna, involved. Almost EUR 3 billion or EUR 1,500 per inhabitant are spent for research and development each year. Aside from universities, universities of applied sciences and private universities, extra-mural research institutions, such as the Austrian Academy of Sciences, the Austrian Institute of Technology, the Christian Doppler Laboratories or the Ludwig Boltzmann Institute play a vital role.
The number of research companies in Vienna has tripled to over 750 in the past 15 years. Most R & D expenditures are invested by Siemens, Böhringer-Ingelheim, Bosch and Kapsch.
Vienna is the location of choice for about 100,000 businesses, many of which are world market leaders in their respective fields. Some 22 0 multinational corporations have their regional headquarters in Vienna, often responsible for the CEE region. When it comes to capital markets, Vienna is once again a crucial regional hub with headquarters of large, international banks.
Business promotion & funding
The Vienna Business Agency is the first point of contact for Viennese companies, international business and start-ups. It offers financial support, real estate and urban development incentives as well as free service and advice.
- Promotion & funding: Businesses of all sizes and across all industries receive support financed by the City of Vienna’s public funds.
- Real estate: Properties and office space is made available for businesses.
- Consulting: Free consulting for all Viennese entrepreneurs.