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The internet is a growth driver for Austria's foreign trade

Internet cable © ADVANTAGE AUSTRIA

© ADVANTAGE AUSTRIA

30. September 2011

The internet not only makes us feel good, a recent study has shown that it also keeps down inflation, increases purchasing power and strengthens foreign trade.

The Institute for Advanced Studies (IHS) has recently conducted a study on behalf of ISPA to examine the economic significance of the internet on Austria in greater detail. The results highlight the importance of the internet to the Austrian economy: the economy is growing by around EUR 350 million a year, with the workforce rising by around 6,000 per year. This is equivalent to around 7% of annual GDP growth or 15% of employment market increases.

The internet also has a positive impact on inflation. E-Commerce improves price transparency and reduces transaction costs – this helps to keep inflation low and enhance purchasing power. Positive effects have also been observed on foreign trade: exports have increased annually by EUR 1.3 billion, with imports rising by EUR 1.4 billion, through internet use.

The ISPA - Internet Service Providers Austria is the umbrella organisation of the Austrian internet industry. Its goal is to provide the ideal economic and legal backdrop to facilitate the development of the internet.

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