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Business Location Austria on the fast track

Margarete Schramböck, Federal Minister for Digital and Economic Affairs © BMDW/Christian Lendl

The country is becoming significantly more attractive as a business location and is increasing its overall competitiveness. No other country among the 63 evaluated nations managed such a huge improvement. This was confirmed by the renowned Swiss business school IMD with its latest ranking, comprising a mixture of hard facts and a survey of business people. Business Location Austria improved in three of four main criteria used as the basis for the ranking i.e. statistical facts and estimates show better values in the fields of economic development, government efficiency and economic efficiency of companies.

“The right conditions and a business-friendly climate are crucial”, says Margarete Schramböck, Federal Minister for Digital and Economic Affairs. “A pro-active business location policy is needed for this. We are not resting on our laurels when it comes to the good state of the economy but are using this to open up a window for necessary reforms,” Minister Schramböck adds.

The IMD ranking has been published annually since 1989. The USA is at the top of the list, followed by Hong Kong and Singapore. The Netherlands rank fourth, ahead of Switzerland and Denmark. Germany is rated 15th in the global comparison of business locations. 

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