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Austria has climbed four places in 2016’s business location rankings

14. October 2016

Austria is fast catching up and has reached 19th place in the World Economic Forum’s current international business location rankings. It is ranked fifth within the Eurozone by comparison.

Austria has managed to climb from 2015’s 23rd place right up to 19th in the World Economic Forum (WEF)'s Global Competitiveness Report 2016–2017 (GCP), allowing it to reclaim its place in the top 20 for the first time in several years and beating a number of other Western industrial nations, including France (21st) and Australia (22nd). Switzerland remains the world’s most competitive country, followed by Singapore (2nd), the USA (3rd), the Netherlands (4th) and Germany (5th).

Poor scores for bureaucracy, flexible pay scales, taxes and deductions are balanced out by good marks for infrastructure, health and the primary school sector, and the managers polled also rated the availability of qualified workers positively. This was especially true of the technical sector, where increasing numbers of well-educated technical high-school leavers are entering the labour market.

The Global Competitiveness Report compares 138 countries against a weighted index of 114 indicators in 12 different categories. In addition to numerous statistical indices, the competitiveness rating also incorporates a survey of 14,000 staff at management level.