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Increase in Business Insolvencies in Austria Amid Economic Challenges
Austria's business landscape saw a challenging year in 2024, with a significant increase in corporate insolvencies driven by economic factors such as rising inflation, recession, and the end of pandemic-related support. While businesses struggled, a notable rise in new company formations offered a mixed picture.
In 2024, the number of corporate insolvencies in Austria surged by 29.1%, reaching 3,628 cases—the highest since 2020. / Picture: © Vindobona.org
In 2024, Austria faced a sharp increase in business insolvencies, which rose by 29.1% compared to the previous year, marking the highest level since 2020. The surge in insolvencies is largely attributed to factors such as inflation, economic recession, and the expiration of pandemic-related financial assistance. Among the hardest-hit sectors were real estate, which saw a staggering 86%…
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