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Austrian Economic Headlines and Analysis

Austrian Tax Reform Yields No Positive Effects for Most Citizens

52 percent of the Austrian population has not felt any positive effects of the tax reform, a recent poll by GfK reveals. Among female respondents, this sentiment is stronger (59%) than among male respondents (45%). 82 percent of the respondents blame rising prices of goods of everyday use on the tax reform.

4 hours ago

Crowdinvesting on the Rise in Austria

In H1 2016 Austrians invested EUR 13.5 million (USD 14.8 million), i.e. EUR 4.8 million more y/y, via domestic internet platforms than in all of 2015, statistics on crowd investing platforms, provided by the Austrian business chamber Wirtschaftskammer Österreich, indicate.

July 26, 2016

Austria's Budget Deficit at 0.5 Pct of GDP in Q1 - Eurostat

Austria's budget deficit could be reduced to 0.5 percent of GDP in Q1 2016 from 0.9 percent, according to the data of EU stats office Eurostat.

July 25, 2016

Social Progress Index: Austria Ranked 13th

Austria has been ranked 13th by NGO Social Progress Imperative, in its Social Progress Index ranking. It precedes Japan and Germany and scored many points thanks to renewable energy projects. However, the state reveals shortages with respect to education, tolerance and equal opportunities. Nordic states, such as Finland, Canada and Denmark lead the index.

July 25, 2016

Most Expensive Expatriate Cities: Vienna Moves Up to 54th Place Overall in the Index

For the 22nd year running, global HR consulting firm Mercer has published its annual Cost of Living Ranking that lists the costliest and cheapest destinations for expatriates. Asia hosts five of the world’s 10 most expensive cities for expatriates. Hong Kong is once again the world’s most expensive city for expatriates. Vienna moves up to 54th place from 56th place overall in the index. 209 countries have been surveyed. See the full index below.

July 22, 2016

IHS - Austrian Economy Back on Normal Path

According to the assessment of IHS, the Austrian economy will be growing at an average pace of 1.4 percent per year between 2016 and 2020, following an average growth of 1.1 percent in the past 5 years.

July 21, 2016

Brexit May Take ca. 0.2 Ppt off Austria's GDP Growth this Year - Allianz

Austria's economic growth rate may be by 0.2 percentage points slower in 2016 as a result of Brexit, insurer Allianz chief economist Michael Heise said at a press briefing in Vienna.

July 19, 2016

Bank Austria Cuts 2017 GDP Growth Forecast to 1.1 Pct, Cites Brexit Risks

Austria will likely record a 1.1 percent GDP growth in 2017, Bank Austria economists said, revising their earlier forecast for 1.5 percent growth. The projection for 2016 was maintained at 1.5 percent.

July 15, 2016

Austrians to Raise Spending on Foreign Travels

Austrians will spend EUR 7.6 billion (USD 8.4 billion) on traveling abroad in 2025, up by 15 percent versus EUR 6.6 billion in 2015, shows a study by payments operator Visa.

July 14, 2016

Innsbruck Borrows EUR 150 Million from EIB

The City of Innsbruck will borrow from the European Investment Bank EUR 150 million (USD 165.8 million) for the expansion of regional railway and tram transport in central areas.

July 13, 2016