Economic climate
The Austrian economy scores highly in terms of social stability and a business-friendly economic climate. Learn more about this highly business-friendly country in the heart of Europe.
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Safe location
with a high level of stability
A functioning state ruled by law, quick court decisions and good payment practices facilitate smooth and stable business processes.
There are virtually no strikes thanks to the close collaboration between employers’ and employee associations. Companies benefit from reliability and long-term plannability. All those are qualities that make Austria a highly business friendly country.
Digital and efficient administration
Irrespective of whether it is a tax return, security information or legal advice, administrative procedures take place online and thus quickly and efficiently in Austria.
Even the setting up of a public limited company is possible via the Internet. The appointment at the office of the notary public is replaced by a video conference and the signature in person is replaced by an electronic signature.
Natural resources and a
strong infrastructure
Companies benefit from a secure supply of electricity and energy thanks to the high percentage of renewable energy generated in the country. Austria currently produces 74.7% of its electricity from hydropower and wind power, aiming for 100% green electricity by 2030.
Not only do all important data and power lines come together in Austria, but the country also scores point as a transport hub on roads, rails and waterways. Transport networks are optimally developed and are being continually expanded along with mobile telephony and dedicated lines.
Sustainable business in Austria
Austria has been pursuing a joint sustainability strategy at federal and state level since 2010. This is based on various national and international strategies and guidelines aimed at implementing sustainable development in the future, while at the same time remaining a business friendly country. Among other things, it aims to create a framework for ecological and sustainable entrepreneurship, which is important to the Austrian economy. The following goals in particular have a high priority here:
- 01
Qualitative growth
The intention here is to create a holistic concept that makes it possible to decouple Austrian economic growth and resource consumption.
- 02
An implementable and resource-efficient policy
The aim here is to create a competitive advantage by pursuing an improved and sustainable resource policy. This is based on securing and conserving natural raw materials, optimizing supply security and reducing the ecological footprint.
- 03
Sustainability in the areas of procurement, mobility and consumption
A circular economy, a sustainable value chain that is funded on social justice, and the reduction of waste, for example through reusable packaging and consumer education, are approaches to enable environmentally friendly consumption. In the area of mobility, a focal point is the expansion and provision of environmentally friendly infrastructure through public transport, as well as the targeted promotion of and research into emission-free vehicles, such as electric cars.
- 04
Efficient use of funding instruments
When awarding subsidies, a focus is placed on promoting sustainable and progressive projects, particularly in the construction sector, and thus effectively preventing effects that are counterproductive for an economy in terms of sustainability.
- 05
Innovative environmental technologies as a driver of growth
- 06
Green Jobs
Jobs in professional fields that are necessary for the implementation and expansion of innovative and sustainable technology, so-called green tech, are to be created in a targeted manner.
Austrian export industry: a success story
Another reason why Austria is such a business friendly country? The location offers a very high market potential.
Products developed and produced in the Austrian economy are popular all over the world. Around a third of services and products are also exported abroad and a total of 200 countries are trading partners of companies based in Austria.
Germany, Italy and the USA are among the most important export partners. In this context, Austrian companies have a great deal of expertise, particularly in the technical sector: Goods in the vehicle and mechanical engineering sector that were manufactured in Austria are delivered to other countries and further processed there. Metalworking products, such as steel construction, also enjoy a high reputation around the world.
Success stories
Salvagnini Maschinenbau GmbH
Since the establishment of the Austrian subsidiary in the 1990s, the Italian-owned firm Salvagnini Maschinenbau has increased machine production and the number of employees several times over. The successful corporate history at the Austrian site convinced Salvagnini to further expand in Austria and remain European instead of producing in China, as many of its competitors do.
You can find more information about Salvagnini Maschinenbau's success story in our blogblog ().
The bureaucracy in Austria is leaner. Moreover, people listen, deal with the specific needs of the company and provide answers.
Our services
We simply get it done – for you!
Are you thinking about founding a company in Austria and planning to expand your business there? You will benefit from unique qualities, because it is a business friendly country. Are you looking for the right location in Austria? We will find the right site for you where people like to live and work. We will also offer you services that are available to you at every step of your entrepreneurial journey in Austria.
