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Austria climbs to fifth place in entrepreneurial rankings

18 February 2013

The world's largest entrepreneurship study reports rises in business start-ups in Austria.

The Global Entrepreneurship Monitor (GEM) has highlighted Austria’s strengths as a place for doing business. With a TEA (Total Early-Stage Entrepreneurial Activity) rate of 9.6%, Austria took an impressive fifth place in a comparable group of 24 developed industrial nations from Europe, Asia and America. It also did well in an additional comparison of all participating EU countries: Austria managed to climb from 17th place in 2007 to take 5th place in the current ranking.

More than 4,800 telephone interviews and 37 expert interviews were held in Austria and evaluated for the GEM Global Report 2012. Experts praised Austria’s strong infrastructure, intellectual property rights, support for high-growth companies, targeted subsidy initiatives and corporate training and education.

Overall more than 198,000 adults in 69 countries took part in the report, the world’s largest study on the current state of entrepreneurship. The participating economies make up an estimated 74% of the global population and account for 87% of global income.