Economic climate
The Austrian economy scores highly in terms of social stability and a business-friendly economic climate. Learn more about this highly business-friendly country in the heart of Europe.
Safe location
with a high level of stability
A functioning state ruled by law, quick court decisions and good payment practices facilitate smooth and stable business processes.
There are virtually no strikes thanks to the close collaboration between employers’ and employee associations. Companies benefit from reliability and long-term plannability. All those are qualities that make Austria a highly business friendly country.
Digital and efficient administration
Irrespective of whether it is a tax return, security information or legal advice, administrative procedures take place online and thus quickly and efficiently in Austria.
Even the setting up of a public limited company is possible via the Internet. The appointment at the office of the notary public is replaced by a video conference and the signature in person is replaced by an electronic signature.
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 89% 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.
Sustainable business in Austria
Austria has been pursuing a joint sustainability strategy at federal and state level since 2010. This is based on various national and international strategies and guidelines aimed at implementing sustainable development in the future, while at the same time remaining a business friendly country. Among other things, it aims to create a framework for ecological and sustainable entrepreneurship, which is important to the Austrian economy. The following goals in particular have a high priority here:
- 01
Qualitative growth
The intention here is to create a holistic concept that makes it possible to decouple Austrian economic growth and resource consumption.
- 02
An implementable and resource-efficient policy
The aim here is to create a competitive advantage by pursuing an improved and sustainable resource policy. This is based on securing and conserving natural raw materials, optimizing supply security and reducing the ecological footprint.
- 03
Sustainability in the areas of procurement, mobility and consumption
A circular economy, a sustainable value chain that is funded on social justice, and the reduction of waste, for example through reusable packaging and consumer education, are approaches to enable environmentally friendly consumption. In the area of mobilitymobility (), a focal point is the expansion and provision of environmentally friendly infrastructure through public transport, as well as the targeted promotion of and research into emission-free vehicles, such as electric cars.
- 04
Efficient use of funding instruments
When awarding subsidiessubsidies (), a focus is placed on promoting sustainable and progressive projects, particularly in the construction sector, and thus effectively preventing effects that are counterproductive for an economy in terms of sustainability.
- 05
Innovative environmental technologies as a driver of growth
- 06
Green Jobs
Jobs in professional fields that are necessary for the implementation and expansion of innovative and sustainable technology, so-called green techgreen tech (), are to be created in a targeted manner.
Austrian export industry: a success story
Another reason why Austria is such a business friendly country? The location offers a very high market potentialmarket potential ().
Products developed and produced in the Austrian economy are popular all over the world. Around a third of services and products are also exported abroad and a total of 200 countries are trading partners of companies based in Austria.
Germany, Italy and the USA are among the most important export partners. In this context, Austrian companies have a great deal of expertise, particularly in the technical sector: Goods in the vehicle and mechanical engineering sector that were manufactured in Austria are delivered to other countries and further processed there. Metalworking products, such as steel construction, also enjoy a high reputation around the world.
Our services
We simply get it done – for you!
Are you thinking about founding a company in Austria and planning to expand your business there? You will benefit from unique qualities, because it is a business friendly country. Are you looking for the right location in Austria? We will find the right site for you where people like to live and work. We will also offer you servicesservices () that are available to you at every step of your entrepreneurial journey in Austria.
FAQs
- 01
What location advantages does Austria offer to international companies?
Austria offers companies a stable and business-friendly economic climate. A well-functioning rule of law, swift court decisions, and a high level of payment compliance ensure stable business processes. Close cooperation between employer and employee associations, along with the low number of strikes, also contribute to operational reliability and long-term predictability.
- 02
How digitized is the public administration in Austria?
Austria ranks among the top performers in Europe when it comes to e-government. Many administrative procedures can be completed online, including tax matters as well as security and legal inquiries. It is also possible to incorporate a GmbH online. 94% of Austrian internet users interact with government agencies online.
- 03
What kind of infrastructure does Austria offer businesses?
Austria has well-developed transportation networks by road, rail, and water and serves as a major transportation hub. Mobile networks and dedicated lines are also being continuously expanded. In addition, major data and power lines intersect in Austria, and Vienna is home to a major Internet exchange, the Vienna Internet eXchange (VIX).
- 04
What role do renewable energy and sustainability play in Austria?
Renewable energy is a top priority in Austria. Already, 90% of the country’s electricity is generated from hydropower and wind. By 2030, Austria aims to rely entirely on green electricity. As a result, businesses benefit from a secure supply of electricity and energy. Austria has also been pursuing a joint sustainability strategy at the federal and state levels since 2010. Key priorities include quality growth, resource efficiency, the circular economy, sustainable mobility, and the targeted use of funding instruments for sustainable and innovative projects.
- 05
How important are exports to the Austrian economy?
Austria has strong international ties: About one-third of its services and products are exported abroad, and companies based in Austria trade with more than 200 countries. Among its most important export partners are Germany, Italy, and the United States. Products from the automotive and mechanical engineering sectors, as well as the metalworking industry, are in particularly high demand.