Study confirms the positive economic effects of business location projects and international skilled workers
The 40th anniversary of the Austrian Business Agency was a good occasion for a scientific review of its activities on behalf of Austria as a business, research, work and film location. The study was presented on Tuesday at a press conference together with Martin Kocher, Federal Minister of Labour and Economy.
On average, international companies contribute € 106.4 billion annually to domestic economic output. “Accordingly, international firms and their investments are essential to the Austrian economy and generate close to 30% of its GDP each year. International skilled workers safeguard more than half a million jobs via value chains. These figures impressively demonstrate the important role played by ABA, whose activities contribute to the value creation, innovation and diversity of the corporate landscape in Austria,” states Martin Kocher, Federal Minister of Labour and Economy. The sub-study carried out by the Institute for Advanced Studies (IHS) examines the entire effects on the country’s value creation over the past decade. The additional government revenue, for example from taxes or social security contributions, total € 35.8 billion annually on average. On balance, international firms created or safeguarded 1.17 million jobs between the years 2010 and 2020, corresponding to 26% of all jobs.
“As the national agency promoting Austria as a business location, we are making a significant contribution towards actively attracting technology, know-how and innovation to Austria. Up until now, the economic value of foreign direct investment has received little attention in public debate. A study now helps us to specifically quantify the economic effects of business location projects, international skilled workers and film productions in Austria,” explains René Tritscher, Managing Director of ABA.
As a subsidiary of the Federal Ministry of Labour and Economy (BMAW), the Austrian Business Agency (ABA), which has now been in operation for 40 years, makes Austria attractive to international companies, top talents and film productions. With its three business areas INVEST in AUSTRIA, WORK in AUSTRIA and FILM in AUSTRIA, ABA consults and supports international companies, skilled workers and film productions at no cost regarding all issues relating to the business, research and work location as well as to Austria as a film location. >> We simply make it easy.