Each year, ADVANTAGE AUSTRIA, in collaboration with the Vienna University of Economics and Business, conducts the Global Business Barometer (GBB) survey to gather insights from Austrian subsidiaries worldwide. The 2024 edition, “Sharing is Caring,” offers valuable findings on the Canadian market.
A majority of participants, approximately 60%, evaluated the economic situation as either favourable or stable, reflecting overall confidence in the market conditions. When assessing the performance of subsidiaries in Canada, most respondents predicted that the volume of orders would remain steady, indicating a consistent level of activity in the near term.
Despite these positive indicators, several challenges persist. Bureaucracy and red tape were cited as significant barriers by half of the survey participants. Furthermore, the availability of qualified labour continues to be a critical concern for many Austrian subsidiaries in Canada.
On a broader scale, geopolitical factors also pose risks to economic activity in Canada. Among these, protectionism emerged as the most concerning phenomenon. Overall, while the economic outlook appears stable, addressing these key challenges - bureaucratic inefficiencies, labour shortages, and geopolitical uncertainties - will be crucial to sustaining growth and ensuring the long-term economic resilience of Austrian subsidiaries in Canada.
For the full survey results, visit the Downloads section below.
