Austria - an attractive place for international companies
The recently published figures for 2013 from Austrian consultancy firm ABA-Invest in Austria confirm that Austria is an attractive and competitive business location for foreign investors. With 228 companies setting up businesses in Austria in 2013 (+13%), the Austrian Business Agency achieved its second best ever result. Investments rose by 23% to EUR 348m and 1,479 new jobs were created.
Reasons for Austria’s appeal lie in its location as a hub to Central, South-eastern and Eastern Europe, the qualified workforce, high stability and a secure legal backdrop. These are complemented by the security of energy supply and the internationally high standard of living.
Germany has traditionally been the most important partner and was once again the strongest investor with 85 projects (2012: 63), while CEE/SEE countries were responsible for 48 new businesses. Particularly sharp rises were observed in companies from Italy (35), Hungary (16) and Slovenia (12), who value the stability offered by Austria.
The strongest areas broken down by industry were services related to manufacturing (41 projects), IT (19), retail (15), tourism (12), personal services/consulting (12) and life sciences (9).
The outlook for 2014 is exceptionally promising: ABA is currently working on 758 projects, which is 11% more than the previous year’s figure.