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Austria profits from globalization

29 May 2014

Everyone benefits, but the greatest beneficiaries are the industrial countries. Austria is in 7th place on the Globalization Index.

A study by the Bertelsmann Foundation has found that industrial nations are the biggest winners from globalization. The authors concluded that, fundamentally, all of the countries examined have benefited. However, advanced industrial countries are profiting much more than the major emerging economies such as South Africa, Brazil, Russia, Mexico, China and India. 42 countries were included in the study.

The researchers also calculated the extent to which the economy of each individual country is networked with the rest of the world. Ireland comes at the top of the Globalization Index, followed by the Netherlands, Belgium and the United Kingdom. Austria comes in 7th place, Germany in 17th. The emerging economies are at the bottom of the list, with Russia taking 37th place, followed by Mexico, China, Brazil, Argentina and India.

The globalization steps examined in the Bertelsmann Foundation study were determined using the so-called “Globalization Index”, strongly oriented to the KOF Index of Globalization by the Swiss Federal Institute of Technology Zurich. In addition to economic globalization indicators, the index also measures aspects of social globalization (tourism, migration) and political globalization.

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