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Austrian Economic Headlines and Analysis

Austrian Banks Benefit from Rebound in CEE - S&P

Austrian banks are benefiting from the economic rebound in CEE, ratings agency S&P said in the latest report pointing to GDP growth rates projected for the region this year.

August 30, 2016

Wifo: Industry Performs Worse in Q2, 0.3-Percent GDP Hike Confirmed

Wirtschaftsforschungsinstitut (Wifo) confirmed its estimates for Q2 2016: the GDP rose less and the industrial segment performed worse. As expected (a month ago) the GDP rose by 0.3 percent q/q, while at the beginning of the year the GDP growth had been 0.4 percent q/q.

August 29, 2016

More Overnight Stays, Arrivals Halfway Through Tourism Summer Season

Austria saw the number of overnight stays rise by 3.7 percent y/y to 34.3 million in the first half of 2016 summer season, show the data of stats office Statistik Austria.

August 29, 2016

Wifo Criticises Austrian Policy Makers

Austria's policy makers are not sufficiently active in such areas as digitalisation, education, innovations and environment technologies, researcher Wifo said in a study Austria 2025.

August 25, 2016

Salzburger Festspiele Generates EUR 215 Million Added Value per Year

The president of the Salzburg Festival (Salzburger Festspiele), Helga Rabl-Stadler, presented a new study proving the financial significance of the event. According to the study the festival generates added value of EUR 215 million per year in the whole country.

August 22, 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

OSCE: "Reliable, Affordable and Sustainable Energy Supplies are Prerequisite for Stability and Security"

Energy experts from the OSCE Mediterranean Partners for Co-operation, representing both government institutions and private sector companies, will begin a week-long field study of sustainable energy in Austria and Germany.

July 12, 2016

Brexit and Its Consequences for Austria

Like any other economy within the euro area, Austria will also be confronted with challenges following the Brexit vote, according to the latest analysis by RBI Research analysts. However, the economic momentum should not experience any noticeable weakening, even though one should expect considerable declines in exports to the United Kingdom.

July 1, 2016

CESEE Outlook: Modest Recovery - EU is Obstacle to Growth – BREXIT Poses Uncertainties

According to the latest prognosis of the Vienna Institute for International Economic Studies, the countries of Central, East and Southeast Europe (CESEE) will have a trend growth rate of up to 3% in the period of 2016-2018. This is 1-1½ percentage points higher than average growth in the eurozone. Consumption will be the main growth driver. The Austrian economy is still benefiting from its economic ties with the region. Direct effects of BREXIT on the region will be limited – indirect effects for the European economy as a whole may be considerable.

June 29, 2016