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Vienna International Business News | Economic | Investment | Financial
Get the latest business news and analysis on the Austrian economy, including news on economic policies, foreign trade, financial developments and investments
EU - African Union Summit as Driver for Strengthened Economic Partnership between African Countries and Austria
Austria plans to use the upcoming European Union - African Union Summit as a means to strengthen the economic partnership between African countries and Austria. Read more about Austria's plans for strengthening cooperation with Africa.
February 15, 2022
FDI in Austria: ABA Location Agency Serves 364 International Companies
The annual results from the Austrian Business Agency (ABA) show that its location agency serves 364 international companies. Read more about the ABA's annual results and how the agency is helping companies settle into Austria.
February 15, 2022
Ukraine Crisis: Potential Impact of Russian Invasion on Ukrainian, Russian and EU Economies
The solution of the Russian aggression and violation of rights towards Ukraine, is of central importance for the world we want to live in. The Vienna Institute for International Economic Studies (WIIW) conducted a study on the potential economic impacts of a Russian invasion of Ukraine. Read their prediction for how an invasion would affect the economies of the EU, Russia, and Ukraine.
February 8, 2022 · Updated: February 11, 2022; 08:35
TTTech Auto Becomes USD-Unicorn in Automotive Technology
By raising an additional EUR 250 million from Aptiv and EUR 50 million from Audi in its latest funding round, TTTech Auto will be enabled to expand its product portfolio for automotive manufacturers and technology partners, to expand internationally in key regions and to extend its capabilities through strategic M&A and product investments.
February 10, 2022
Marina Tower: Completion of the Highest Residential Tower in Vienna
The highest residential tower in Vienna with 140 meters and 41 floors is successfully completed in these days.
February 10, 2022
Combating Violence Against Women: New Silent Emergency Call App Available From March
The Austrian government has introduced a new app to help counter the alarming trend of increased domestic violence against women. Read about the new app and other steps the government is taking to prevent violence against women.
February 10, 2022
Vienna is Becoming the Start-up Capital of Austria
Vienna's start-ups generated an added value of 3.9 billion euros in 2021, making it the most popular place in Austria for start-ups. Read more about the start-up environment in Vienna and what it has done for the Austrian economy.
February 9, 2022
Vienna Business Agency Sees Significant Increase in Expat Advice Requests
The Expat Center and the Business Immigration Office of the Vienna Business Agency saw a stark increase in the number of expats seeking advice during the COVID-19 crisis. Read about this increase and how the Vienna Business Agency has assisted expats.
February 9, 2022
Economics Minister Schramböck Calls EU Chips Act "An opportunity for Europe"
The European Commission has unveiled its draft for the European Chips Act. Read about the Chips Act and why Economics Minister Schramböck called it "an opportunity for Europe."
February 8, 2022
EXPO 2020 Dubai: Extraordinary Austria Pavilion Wins Multiple Awards
The Austria Pavilion at EXPO 2020 Dubai has now won yet another award. Read about the multiple awards the pavilion has won and why it is receiving so much recognition.
February 8, 2022
President Macron Meets with EU Interior Ministers to Discuss Asylum and Immigration
French President Emmanuel Macron met with Interior Minister Karner and his EU counterparts to discuss asylum and immigration and other priorities of the French Presidency of the Council of the European Union. Read what the French president said and what was agreed upon at the meeting of the EU interior ministers.
February 7, 2022
Viennese "Marriage without Borders" Initiative Assists Binational Couples in Austria
The Ehe Ohne Grenzen (“Marriage without Borders”) Initiative offers free legal advice and counseling to binational couples in Austria. Learn more about this initiative and the work that its volunteers do.
February 4, 2022
Austria Promises Legal Action After EU Commission's Nuclear Energy Decision
Austria has vowed to take legal action against the European Commission after it decided to include nuclear energy and natural gas as sustainable investments under the EU Taxonomy Regulation. Read what the Austrian president, chancellor, and climate minister said about this decision.
February 3, 2022
French Ambassador to Austria: Positions on Migration, EU-Balkan Enlargement and Nuclear Energy Incompatible
Ambassador Gilles Pécout presented France's Presidency program to the EU Committee of the Austrian Federal Council (Bundesrat). Pécout also mentioned challenges of the French Council Presidency, especially in points where Austria has a different position. The tensions between France and Austria regarding the different positions on nuclear energy, migration and EU enlargement are respected but currently remain unresolved.
February 3, 2022
Armenia and Austria Strengthen Bilateral Ties
Foreign Minister Schallenberg is visiting Armenia in an attempt to strengthen bilateral ties. Read about Austrian-Armenian relations and Schallenberg's trip, which includes meetings with Armenian Prime Minister Nikol Pashinyan and Foreign Minister Ararat Mirzoyan.
February 2, 2022
Opec and Non-OPEC Members Agree Further Gradual Increase in Oil Production
At the 25th OPEC and non-OPEC Ministerial Meeting (ONOMM), the oil-producing countries decided upon a gradual increase in oil production for March. Read about this and the other decisions made at the meeting.
February 2, 2022
Economic Outlook for Austria until 2024
Strong economic rebound amid high uncertainty about impact of Covid-Omicron variant. Find out what the economic future holds for Austria until 2024.
February 2, 2022
German and Austrian EU Ministers Supportive of Accession Process for Western Balkans
German EU Minister Anna Lührmann met with Austrian EU Minister Karoline Edtstadler in Vienna. Read what they said about EU accession for the Western Balkan states, compulsory vaccination, and more.
February 1, 2022
Vienna: Immigrating Foreigners Boost EU's Fifth Largest City
Despite the COVID-19 pandemic, Vienna's population grew again in 2021. Read why immigration was critical for Vienna to continue its growth and what the forecast is for the future.
January 31, 2022
Austrian Airlines Relaunches Non-stop Flights to Los Angeles in Summer 2022
Starting in mid-May, Austrian Airlines will once again offer a direct flight between Vienna and Los Angeles to the U.S. West Coast. From 20 May, Austrian Airlines will fly five times a week to L.A.
January 31, 2022
Inflation in Austria: Government Approves Relief Package to Deal with Rising Energy Prices
Chancellor Nehammer and Vice-Chancellor Kogler held a summit with energy suppliers and assembled a relief package to help combat inflation. Learn what's in the relief package and who will benefit from it.
January 28, 2022
City of Vienna to Provide 120,000 Euros to Migrant Organizations in 2022
The City of Vienna has decided to provide 120,000 euros in funding for migrant organizations and associations to help offset the financial stress of the COVID-19 pandemic. Read about the funding for projects in 2022 and examples of important integration projects from 2021.
January 28, 2022
Expo 2020 Dubai: Austria's Youth Showcase Their Innovation
The four teams that won Austria's "Innovative Youth" competition will get to showcase their projects at the World Expo 2020 in Dubai. Read about the competition and what the winning projects were.
January 27, 2022
Corruption Index International: Austria Loses Points for the Second Time in a Row
According to Transparency International's global corruption index, Austria has become even more corrupt and now finds itself in 13th place. The U.S. is in 67th place, and South Sudan ranks last, at 180th.
January 26, 2022
Covid in Austria: Lockdown for the Unvaccinated Ends Monday
As COVID-19 infections reached a new high in Austria due to Omicron, Chancellor Nehammer and Health Minister Mückstein announced an end to the lockdown for the unvaccinated. Read why they decided to end the lockdown and which measures still apply.
January 26, 2022
Forward-looking Agreement for Strengthening Vienna as a Business Location
A joint program of the City of Vienna and the Vienna Chamber of Commerce (WKW) is intended to strengthen and further develop the business location, but also to secure prosperity and quality of life for the city. The ten priority areas include strengthening the location, supporting SMEs and start-ups, climate protection, infrastructure, skilled workers and tourism.
January 25, 2022
Austria First EU Country to Implement Mandatory Corona Vaccination
Austria has become the first EU country to implement mandatory vaccination against COVID-19 for all adults. Read about the new law, as well as the new incentives the Austrian government is offering for vaccination.
January 21, 2022
Vienna Airport Hub: Ryanair to Take Further Market Share from Competitor Austrian Airlines
Ryanair continues to cut into the market share of Austrian Airlines at Vienna International Airport. Read about the growth of this discount airline and how it is competing with Austrian Airlines in its home country.
January 20, 2022
Kazakh Foreign Minister in Vienna Promises Investigation into the Unrest
Foreign Minister of Kazakhstan Muchtar Tileuberdi met with Foreign Minister Schallenberg in Vienna, and the pair discussed the recent protests and violence in Kazakhstan. Read more about their discussion, and watch their joint press conference.
January 20, 2022
Vienna - Perhaps the Best Place to Go in 2022
Vienna was ranked one of the top travel destinations for 2022 by multiple international media outlets. Read more about this positive development for Vienna's tourism industry.
January 19, 2022
Meet Andrei Plotnikov, Head of the Trade Representation of Russia in Austria
Dr. Andrei Plotnikov, who was born in 1959 in Donetsk in the former Ukrainian Soviet Socialist Republic, currently the embattled eastern part of Ukraine, has been the Head of the Trade Representation of Russia in the Republic of Austria since 2021.
January 18, 2022
Israel and Austria Step Up Cooperation on Security Issues
Israeli Ambassador Mordechai Rodgold and Austrian Interior Minister Gerhard Karner met for working talks to discuss further cooperation on security issues. Read more about their meeting and what they said about the fight against anti-Semitism.
January 18, 2022
Demand for Luxury Real Estate in Austria Increased by 12 Percent Due to the Corona Situation
Luxury real estate demand increased by 12 percent in Austria in 2021, according to the Engel & Völkers Group. Read more about the luxury real estate trends in Austria and around the world.
January 17, 2022
President of Switzerland on Official State Visit to Austria
On his first official visit to Austria as president, Swiss President Ignazio Cassis met with Austrian President Alexander Van der Bellen. Read more about the meeting between the two presidents.
January 14, 2022
FDI in Austria: German Chocolate Group a "Success Story" Just One Year After Mars Takeover
Foreign direct investment is on a downward trend in Austria relative to GDP. It is therefore all the more gratifying that the Baden-Württemberg family-owned company Alfred Ritter is ranked as one of the "success stories" in the ABA ranking barely one year after the Mars takeover and start of production in Breitenbrunn, Burgenland.
January 14, 2022
Covid in Austria: Up to 32,000 New Cases Forecasted per Day
Experts are forecasting a stark increase in the number of COVID-19 infections in Austria in the coming weeks. Read more about the current COVID-19 situation in Austria.
January 12, 2022
Gernot Blümel Now Working for Superfund Co-Founder Christian Baha
Former Austrian finance minister to become CEO of Superfund from March 2022 and is expected to push the asset manager's expansion.
January 12, 2022
Crisis in Lebanon - Austria's 180 Men Help Counter Hezbollah
Foreign Minister Schallenberg is in Lebanon for a working visit to discuss the ongoing crisis the country is facing. Read more about Schallenberg's visit and how Austria plans to help Lebanon.
January 11, 2022
Omicron Has Led to Quasi-Ban on Entry of Britons, Norwegians, Danes and Dutch into Austria
Due to the rapid spread of the Omicron variant of COVID-19 throughout Austria, entry rules to Austria have been tightened. With Great Britain, Norway, Denmark and the Netherlands, four important countries of origin of tourists have been declared virus variant areas. Read about the restrictions.
December 21, 2021 · Updated: December 23, 2021; 19:35
Vienna Tourism: November Overnight Stays Plus 494% - "Only Arithmetically"
Despite a lockdown for part of the month, Vienna saw a stark increase in the number of overnight stays in November 2021 compared to November 2020. Read how this compares to the pre-pandemic levels of 2019 and how accommodation providers in Vienna have fared so far this year.
December 23, 2021
Austrian Economic Delegation Visits UAE and Expo 2020 Dubai
An economic delegation representing Austria visited the United Arab Emirates (UAE) and the World Expo 2020 Dubai. Read about the delegation's official visit to the UAE.
December 22, 2021
Austrian Airlines Finally Has a Female Chief Executive
Annette Mann has been chosen to be the next CEO of Austrian Airlines, succeeding Alexis von Hoensbroech. Ms. Mann will become the first female CEO of Austrian Airlines. Read more about her selection and her predecessor's departure.
December 20, 2021
OECD: "Austria Is Set to Overcome the COVID-19 Shock and Its Economic Scars"
The Organisation for Economic Co-operation and Development (OECD) has released its latest Economic Survey of Austria. Read what the Survey says about the Austrian economy coming out of the latest wave of the COVID-19 pandemic.
December 20, 2021
"Golden Sunday" Returns: Austrian Non-Food Retailers Allowed to Remain Open on December 19
In an attempt to recoup some of the billions of euros retailers lost out on due to the lockdown in the middle of the holiday season, the Austrian government has announced that non-food retailers will be allowed to remain open on Sunday, December 19 for what is known as "Golden Sunday." Learn which stores the exception applies to and when you can do some last-minute Christmas shopping on Sunday.
December 17, 2021
Nehammer on First Trip to Brussels as Chancellor: "I'm an Ardent European"
Chancellor Nehammer made his first trip to Brussels for the European Council and the EU Eastern Partnership Summit. There he met with the other heads of state and government of the EU member states, as well as EU Commission President Ursula von der Leyen. Read what Nehammer discussed on the trip.
December 16, 2021
Australia and Austria for Strong Multilateralism and Foreign Trade
Foreign Minister Alexander Schallenberg reaffirmed the good relations with Australia in a personal meeting with Australia's Foreign Minister Marise Payne. Mrs. Payne also paid a visit to Chancellor Nehammer.
December 13, 2021
International Organizations Continue to Favor Austria as Their Seat
The hosting of international organizations is of great importance for Austrian foreign policy, secures 19,000 jobs and has a gross value added effect of € 1.35 billion per year.
December 13, 2021
Who Is Kazem Gharib Abadi, Iran's Former Permanent Representative to the International Organizations in Vienna?
After serving for over three years as Iran's Permanent Representative to the International Organizations in Vienna, Kazem Gharib Abadi is now the Vice-President of Iran’s Judiciary for International Affairs and Secretary-General of Iran's High Council for Human Rights. Read more about Mr. Gharib Abadi's career path.
December 13, 2021
These Covid Rules Apply After the Lockdown for Vienna and Surroundings
The Austria-wide lockdown ended yesterday and applies to vaccinated and recovered individuals (2G). For the unvaccinated, the lockdown continues to be in effect. What new rules now apply at the federal level and in Vienna and the province of Lower Austria (Wien und Umgebung)?
December 13, 2021
After Pandemic Shock, Strong Upturn in Foreign Trade: China +26.4 %, USA +18 %
New data for January to September 2021 shows that Austria's foreign trade is returning to pre-pandemic levels. Read about Austria's improving trade figures.
December 10, 2021