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Growth in foreign ties for Austrian companies

29 November 2016

Austria has seen an increase in the number of businesses belonging to international firms, along with a similar surge in international subsidiaries owned by Austrian companies.

Data for 2014 analysed by Statistics Austria indicate that Austria’s international ties continue to expand, with 10,400 Austrian companies belonging to an international concern (up by 2.1%). The number of foreign subsidiaries owned by Austrian companies has risen by 5.5% to 6,400.

The figures showed that international companies employed more than 560,000 people in Austria, delivering a turnover of almost 245 billion Euro and bringing some 10,000 additional jobs (up by 1.8%) onto the Austrian employment market. The overseas subsidiaries of Austrian companies (with Austrian shareholdings of more than 50%) provided 1.1 million jobs and achieved a total turnover of 423 billion Euro.

Austrian corporate activity overseas was squarely focused on EU countries, with Germany (which boasts a share of 12.4% of the total number of employees working in foreign subsidiaries) leading the field. Some 7.7 to 9.4% of all those working abroad are located in the Czech Republic, Romania and Hungary respectively, followed by Poland (5.1%), Slovakia (4.8%), the Russian Federation (4.6%), the USA and the Ukraine (each 4.3%), the UK (4.0%), Croatia (3.0%), China (2.9%) and France (2.4%).

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