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Economic Significance of Tourism in Austria

Competition in the growth market of tourism is tough. Each year the World Economic Forum selects the best tourism destinations, and evaluates the attractiveness and development potential of approx. 140 countries. Austria is rated an outstanding twelve in the world. In terms of its tourist service infrastructure, Austria is even ranked number one globally by the World Economic Forum.

This impressive performance is also underlined by the hard facts. The country may be small, but Austria is a giant with respect to tourism. There is hardly any country in the world which can match Austria in terms of tourism income. In 2016, foreign visitors to Austria spent a total of EUR 17.4 billion. Total tourism revenue amounted to EUR 40 billion.

The strong growth rate of 4.1 % in the number of overnight stays in Austria in 2016 was not only above the long-term annual average but also surpassed the performance of the entire EU-28. Famous around the world for its cultural offering and untouched natural environment, Austria equally lures tourists and tourism enterprises. 41.5 million visitors decided to enjoy high-quality tourism in Austria in 2016. 

Growth market attracts international investors

Numerous international investors, from Starwood, Falkensteiner, Hilton and Steigenberger to Motel One Group, Accor and Landal Green Parks, already profit from the culture, scenery and highly qualified employees in Austria.

Austria has a reputation as a safe travel destination. This good image is doubly important in times of crisis. The high internationality of Austrian tourism in an EU comparison is worthy of note. Most recently, foreign visitors accounted for about 70 % of all overnight stays.

Comprehensive educational offering

Not only six university courses of study and a private university but more than 40 study programs at universities of applied sciences and 28 schools offer an education in the field of tourism with guaranteed quality. Every tenth trainee in Austria works in the tourism sector. Some 11,300 junior cooks, specialized restaurant staff, hotel, catering and travel agency assistants, fitness trainers etc. take advantage of Austria’s well-grounded dual educational system, which uniquely fuses theory and practical training.

 

Please find more on Tourism in Austria here.

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