A tradition of innovation 
in Austria

Austria is leading the group of “strong innovators” within the EU, demonstrating a robust commitment to invest in research across diverse fields.

From circuit boards and batteries to turbines and sewing machines – our inventions have significantly shaped the world of science and technology and revolutionised our everyday lives. These are just a few examples of the Austrian inventive spirit. Many Austrian inventions have radically changed research and technology and our everyday lives as well as revolutionising or even creating the market in the first place. Austria’s innovative strength continues unabated. The country ranks sixth among EU member states in the European Innovation Scoreboard, leading the group of “strong innovators''. Austria is even rated first when it comes to intellectual property. No other country registers as many patents, trademarks and designs in relation to its GDP, showcasing its successful investment in research strategy.

Attractive for expats

International managers feel at home in Austria and particularly in Vienna. It is the only German-speaking city rated among the 15 most liveable cities in the world, as concluded by the Expat Insider 2021 survey report. This is hardly surprising, in light of the fact that Vienna offers an outstanding quality of life combined with favourable living costs.

Tops in research funding

On an international level, Austria ranks first in supporting company research and development.

Many international companies  highly value the funding opportunities. They have established research operations in Austria and continuously expand them. 

 

Highly motivated
and superbly qualified

Investors highly value the specialised expertise and comprehensive basic knowledge of Austrian employees.

The dual training system in apprenticeships and advanced technical colleges teaches practice-oriented skills. Training and requirements are tailored to one another in close collaboration with companies. Employees here are highly motivated and loyal. On average, they stay with a company for about ten years.

Small country,
large-scale research funding 

Austria combines direct and indirect funding, which is unique in Europe. In an EU comparison, Austria ranks third with a research ratio of 3.2%.

Companies can apply for direct funding for their research projects via the relevant programme offered by the Austrian Research Promotion Agency (FFG). The 14% research tax credit can be claimed for the costs not covered by these programmes, regardless of the firm’s size, sector or corporate structure. This applies to both in-house investment in research in Austria and to contract research.

Austria 
as an industrial nation

In fact, industry in Austria is a major economic pillar, often overshadowed by the stereotype of the picturesque Alpine country. With 29.2% of the GDP, industry plays a leading role in Austria's economy, while tourism, although also important, contributes 13.1% to the GDP.

The industrial sector  is represented by a variety of goods produced, from high-precision machinery and vehicles to pharmaceutical products and electronic devices, demonstrating the country's economic strength.

Many Austrian industrial companies are leading players in the global market or even world market leaders, such as Andritz AG, voestalpine, Rosenbauer, Miba, Lenzing, and Doppelmayr. Extremely export-oriented, Austria is also among the top three foreign investors in Eastern and Southern Europe.

Reach millions of customers

Companies from a variety of sectors find an extremely promising environment here to grow and succeed. The favorable economic climate and stable infrastructure offer opportunities not only for established companies but also for startups and innovative entrepreneurs looking for a promising market.

• Ideal test market for German-speaking Europe
• Expertise in Eastern Europe due to historical ties and immigration from Southeastern and Eastern Europe;
• International Business Hub – Location of many international organizations (e.g., UN, OPEC, and IAEA) and regional headquarters;
• Strong population growth and above-average employment rate.

International organizations also take advantage of Austria's optimal location in the heart of Europe: the UN has designated Vienna as one of its four official headquarters and is represented here by numerous organizations. The OPEC and the IAEA also have their headquarters in the city, exerting influence beyond national borders. Additionally, 412 international companies operate regional headquarters in Austria.

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 76.2% 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.

Live where others
spend their holiday

Austria continuously comes out on top in international quality of life rankings.

A clean environment, clear lakes and rivers and outstanding air quality combine with a wide range of sport and cultural activities. This constellation is complemented by a high degree of personal safety, a first-rate healthcare system, excellent infrastructure, high-quality housing and an excellent education system.

To tackle the world's ecological challenges, innovative climate and environmental protection solutions are crucial. Austria's green tech companies are at the forefront of this innovation. With an R&D ratio of 5%, these companies are pioneers in diverse fields such as waste management, recycling, industrial production, and the circular economy.   

Environmental technologies, energy efficiency, and the generation of alternative energies have a long-standing tradition in Austria. For example, 76.2% of the required electricity is produced through hydropower. This pioneering approach allows Austrian green tech companies to offer tried and tested technologies, whereas other countries are only just starting out. In 2021, Austria was ranked third in the EU’s Eco-Innovation Index, and is thus one of the green innovation leaders in Europe.