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Austrian Economic Headlines and Analysis

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.

Yesterday

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.

Yesterday

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

Study: Purchasing Power in Austria Grows Again

The per capita purchasing power of Austrians has grown again. In 2015 every Austrian had on average a purchasing power of EUR 20,646, EUR 277 more than a year earlier. However, taking into consideration inflation it was per month just EUR 9 more.

August 23, 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

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.

July 28, 2016

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