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Austria is ranked third in the EU with respect to material prosperity

Sacher cake © Hotel Sacher

The so-called "actual individual consumption" measures goods and services actually consumed by households. Austria is at 117 percent of the EU average, according to the European Statistical Office Eurostat. The data is based on revised purchasing power parities as well as the latest GDP and population figures.
According to the new study, only Germany and Luxembourg have a higher level of material prosperity. However, the figures for Luxembourg are distorted by the large number of commuters from neighbouring countries, Eurostat admits. The latest figures apply to the year 2018. This benchmark provides a better comparison than annual GDP per capita, Eurostat says.

The poorest country in the EU is Bulgaria, in which case actual individual consumption (AIC) is only at 56 percent of the EU average. Ten EU member states have an AIC which is higher than the EU average, whereas fourteen countries were up to 30 percent lower. Most EU member states have shown a constant AIC level in recent years.

Find out more about the excellent framework for companies in Austria.

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Thanks to a fantastic mindset, our employees at the Villach site have built up a unique expertise which helps us to further strengthen our position on the global market. We fuse high-performance manufacturing with research and development in the field of power electronics. In addition to a very good cooperation with partners and networks, a well-developed landscape of 'talent factories' ranging from higher technical colleges to universities, we as a company also value the outstanding model of research promotion which exists in Austria.


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