LOCATION:            In the center of Europe, between Western and 
                     Eastern Europe
CAPITAL CITY:        Vienna, 1,5 million inhabitants
PROVINCES:           Vienna, Lower Austria, Upper Austria, Salzburg, 
                     Tyrol, Vorarlberg, Carinthia, Styria, Burgenland
GROSS STATE 
PRODUCT:             1995: $196 billion
POPULATION:          8 million
CIVILIAN WORKFORCE:  4 million
UNEMPLOYMENT RATE 
1996:                4,1%

PER CAPITA PERSONAL INCOME:
LEADING INDUSTRIES:  Automotive, electronics, computer software, 
                     biotechnology, specialty chemicals, plastics, 
                     foods, machinery, iron and steel, paper and pulp
EXPORTS IN 1996:     $46 million
IMPORTS IN 1996:     $56 million

IMPORTANT LOCATION FACTORS

  • The proximity to East and West Europe, the Mediterranean and Middle East, providing Austria an excellent advantage with respect to both production and exports;
  • Access to European Union preferential trade and currency systems as a result of Austria's accession to the EU;
  • The existence of a highly trained, well motivated labor force;
  • A long record of good union relations and one of the lowest percentage of worker time lost due to strikes of all OECD countries;
  • A strong educational system that can also be used for worker training and retraining;
  • Excellent transportation, infrastructure and communications system
  • A world reputation for economic and political stability and moderation;
  • Low corporate taxes and the recent program of economic policy liberalization;
  • A broad variety of investment and export incentives;
  • A safe and clean environment as well as a world-famous quality of life.

INCENTIVES - AREAS OF FOCUS

  • Research and development
  • Environmental protection
  • Small and medium-sized businesses
  • Globalization
  • Education
  • Export financing
  • Combatting long-term unemployment
  • Eastern Europe
  • Technology
  • Technology transfer
  • Innovation
  • Infrastructure
  • Investment

Visit Austrian Business Agency's website at http://www.telecom.at/AustrianBusinessInfo or enter a text search 'Austrian Business Agency' and 'Business Monitor'.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.