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International Women's Day 2021: Gender Pay Gap in Austria Still Significant

Since the International Women's Day is on March 8, Statistics Austria has revealed some data that show the still significant differences between women and men in Austria's workforce. On average, women earn around 14 percent less than men and only 3.8 percent of employed women hold managerial positions, compared to 8.1 percent of employed men.

March 5, 2021

Covid-19 in Austria: Slight Easing of Regulations

The Austrian government has announced some new regulations with regard to the Covid-19 situation in Austria. The province of Vorarlberg will be facing relaxations of the current regulations as early as March 15, while the rest of the country will need to wait until the end of March and April for the opening of gastronomy and the cultural sector.

March 2, 2021

Schramböck and Baldwin at International Research Conference

At the research conference hosted by the Research Center International Economics (FIW), Austria's Economics Minister Margarete Schramböck had the opportunity to take part in discussions with the star economist Richard Baldwin and a number of other important representatives of international economics research.

March 1, 2021

Jewish Museum Vienna Opens "Herzls Töchter - 100 years WIZO. Viennese Women for Israel"

In a new exhibition, the Jewish Museum Vienna highlights the past 100 years of the Women's International Zionist Organization (WIZO) with particular spotlight on the movement in Vienna. Ambassador of Israel to Austria H.E. Mr. Mordechai D. Rodgold together with WIZO president Karin Maier-Winter, and Director of the Museum Danielle Spera.

February 24, 2021 · Updated: February 26, 2021; 20:45

WKO President Mahrer Demands Tourism Opening in March

At the so-called "opening summit" initiated by Austria's Federal Chamber of Commerce (WKO), the president of the WKO Harald Mahrer and other representatives of the affected businesses demand to open up the tourism and leisure industry. The currently successful model of entry tests for body-related services could be expanded to these industries as well, Mahrer emphasized.

February 26, 2021

Austria Continues to Invest In Bicycle Transportation

Austria's Ministry of Climate Protection continues to support the purchase of e-bicycles and transport bikes. Enterprises, associations and individuals will benefit from the increased subsidy amount and a reduction of value-added tax for bicycle repair services.

February 26, 2021

Vienna International Center Provides Heating for Viennese Households

With a new energy recycling plant, the Vienna International Center's (VIC) air conditioning system can now provide heat for around 2,400 households in the near proximity. Waste heat of the VIC's cooling system will flow into the district heating system, which can save around 3,400 tons of CO2 each year.

February 23, 2021 · Updated: February 23, 2021; 14:55

Equal Pay Day: Austria's Women Earn 14.3 Percent Less

On February 21, 2021, Austria "celebrates" its Equal Pay Day. The current gender gap in income is at 14.3 percent, which amounts to 52 days of the year in which women work uncompensated. Austria's Women's Minister Susanne Raab uses the occasion to install certain measures that aim to reduce this difference.

February 19, 2021

ÖBB Is Internationally Recognized for Sustainability

The international rating agency ISS has awarded ÖBB-Infrastruktur AG the first place out of 55 international transport companies for its commitment to sustainability, climate protection and eco-efficiency. Austria's Climate Protection Minister Gewessler is delighted about the international recognition for ÖBB and emphasizes that climate protection is the right path for the future.

February 19, 2021

Corona Short-Time Work in Austria Is Extended

Austria's Labor Minister Martin Kocher has announced a new phase for the so-called Corona Short-Time Work in Austria valid from April 1, 2021, to June 30, 2021. The conditions of the new phase are similar to the current regulations. The aim for after June is to gradually phase-out the short-time work where possible.

February 17, 2021

Austria's Economy Is Far Behind EU Average

According to the latest numbers issued by the EU's statistics office Eurostat, the gross domestic product of the EU fell by 0.6 percent in Q4 2020 compared to the third quarter of the same year. Austria, however, has performed the worst out of all EU member states and saw a GDP decline of 4.3 percent.

February 17, 2021

WKO: Austria Needs to End Lockdown in March

After the recent announcement of Austria's federal government to have restaurants, hotels and the cultural sector closed until Easter, the heads of the Austrian Federal Chamber of Commerce (WKO) demand opening steps for March. They emphasize that all the current tools, such as mass testing, entry tests and stricter distance rules, would allow a safe gradual opening of the currently closed sectors.

February 16, 2021

Deadline for Austrian "Reemployment Promise" Gets Extended

To further support the hard hit Austrian economy, the Minister of Labor and Minister of Tourism have decided to extend the deadline for the so-called "reemployment promise". This allows employers to lay off their employees and agreeing to re-hire them, once the sector is allowed to open up again. The affected employees receives unemployment benefits without any placement activities by the Austrian Arbeitsmarktservice.

February 15, 2021

Austria's and EU's GDP Forecast Gives Hope

In the EU winter forecast for the level of economic output in the near future, Austria's and the whole Euro area's GDPs are said to grow by almost 4 percent in 2021 and 2022. Although the economies declined in the fourth quarter of 2020 and first quarter of 2021 due to the impact of the second wave, the economic outlook is still promising for the remainder of 2021 and 2022.

February 12, 2021

European Year of Rail: Inauguration of EU Locomotive in Vienna

The European Year of Rail wants to highlight the advantages of rail as as safe and sustainable means of transportation. For this occasion, a specially branded EU locomotive was inaugurated at the Vienna Central Station by Austria's Climate Protection Minister Gewessler, representative of the European Commission in Austria Selmayr, and Austrian Railways CEO Matthä.

February 11, 2021

Austrian Museums Highlight UN's Sustainable Development Goals

Austria's Ministry of Arts and Culture together with the International Council of Museums (ICOM) Austria have presented the project "17 Museums x 17 SDGs - Sustainable Development Goals", which will focus on 17 Austrian museums each focusing on one of the SDGs developed by the United Nations.

February 11, 2021

How the EU-Japan Economic Partnership Agreement Benefits Austria

The EU-Japan Economic Partnership Agreement (EPA) celebrates its second anniversary by adding 28 protected geographical indications, one of them important for Austria, and facilitating trade in wine and vehicles. The agreement does not only benefit the EU as a whole, but has also immediate impact on Austria's economy.

February 8, 2021

WKO Heads: Easing of Lockdown Was Necessary

Both, the Austrian Federal Chamber of Commerce's (WKO) President, Harald Mahrer, and Secretary General, Karlheinz Kopf, are pleased by the government's decision to open the retail sector and body-related service providers again. They furthermore demand a clear perspective for industries that are yet to be opened.

February 4, 2021

Vienna Stock Exchange: Herrmann Joins Boschan and Koblic on the Management Board

The Vienna Stock Exchange (Wiener Börse AG) has announced that its Supervisory Board has decided to appoint Andrea Herrmann as a third member of the Management Board (CFO).

February 4, 2021

Vienna Hopes for Revival as Congress Metropolis

The Covid-19 pandemic has influenced numerous different industries. Conventions, congresses and large-scale corporate events have not been possible, although they were important drivers for Vienna's tourism and international standing as congress metropolis. For 2021 and the upcoming years, the city hopes to experience a revival of this particular industry.

February 3, 2021

Austria's National Budget: EUR 22.5 Billion Deficit

The Covid-19 crisis has severely impacted Austria's economy and national budget. The Ministry of Finance has issued its financial results for the year 2020, which shows a deficit of EUR 22.5 billion. Higher expenditures for measures in connection with Covid-19 and a decrease in public levies are the main reasons for the bad results.

February 3, 2021

Covid-19 in Austria: New Rules Apply From February 8

Austria's federal government has announced a slight relaxation of the current lockdown. Shops and schools will reopen under certain requirements, but penalties for disregarding measures and and entry into Austria will be tightened. The aim of the government is to contain the current virus mutations from the UK and South Africa.

February 2, 2021

"Ronaldo of Investment Banking" Becomes New CEO of Bank Austria Parent Company

The Board of Directors of UniCredit SpA, which owns 96.35% of Bank Austria, unanimously nominated "deal junkie" Andrea Orcel as designated CEO to replace the outgoing CEO, Jean Pierre Mustier.

January 31, 2021

Blümel: EU's Raise of State Aid is Necessary Step

The European Commission has extended its framework for state aid to support companies that are affected by Covid-19. In addition to the extension, the current thresholds have been raised, which was a highly necessary decision according to Austria's Finance Minister Gernot Blümel.

January 29, 2021

European Battery Initiative Launches With Austrian Participation

The European Commission has approved a EUR 11.9 billion large-scale battery project. Austria will play a decisive role in this initiative having involved six companies. The aim of the project is to create a competitive, innovative and sustainable value chain for batteries and thus working towards achieving the European Green Deal.

January 28, 2021

Construction Works for Vienna's New Metro Line Have Begun

The construction works for Vienna's public transport extension has begun. The U2xU5 project, which will result in a whole new metro, the U5, and an extension of the current U2 line is set to be completed by 2026 and 2028, respectively. Austria's Federal Ministers for Finance and Climate Protection as well as Vienna's City Councillor for Public Transport took part in the groundbreaking ceremony.

January 28, 2021

Travel Austria-USA: Negative Covid-19 Test Required

The new President of the United States and the responsible departments have renewed the entry ban for European citizens. Thus, effective January 26, 2021, Austrians, Europeans and even U.S. citizens traveling to the USA need to provide a negative Covid-19 test result in order to be allowed to travel to the United States.

January 26, 2021

Investment Subsidy Program Gets Extended

The Austrian government has announced an extension of the investment period for which subsidies will be granted. The high demand for the subsidy shows that many companies are hoping for a quick recovery from the current pandemic, which secures important jobs and strengthens Austria as a business location.

January 25, 2021

Austria Extends Lockdown Until February 7

The Austrian government has announced an extension of the current lockdown until at least February 7, 2021. Due to only a very slow decline in Covid-19 cases and the virus mutations from Great Britain and South Africa, which are more contagious and spread actively through the EU, the lockdown was extended and wearing a FFP2 mask in public transport and stores will be mandatory.

January 22, 2021

Brexit Agreement: Austria's Economy Significantly Better Off

The Austrian Institute of Economic Research (WIFO) has issued a study in which the effects of the post-Brexit trade agreement between the United Kingdom and the European Union was compared to a no-deal scenario. The results of the study show that the Austrian economy be happy with the negotiated agreement.

January 14, 2021

WKO: Vaccination in Austrian Businesses Possible

Austria's companies could be used as part of the vaccination strategy. This is what many major companies and Austria's Federal Chamber of Commerce suggest. The readily available infrastructure could provide testing and vaccination facilities for up to 500,000 employees in the various industries.

January 12, 2021

Mandatory Registration for Travel to Austria

Starting on Friday, January 15, 2021, travellers entering Austria will need to be registered in order to pass the border. The quarantine obligation after entry remains in effect. The required form is available on the page of the Foreign Ministry and needs to be presented in the event of an inspection.

January 12, 2021

Eurochambres President Demands Repositioning of EU

After the post-Brexit trade deal between the EU and the United Kingdom has finally been set up, Eurochambres President Christoph Leitl demands repositioning of the European Union and does not only see negative impacts of the UK leaving the single market and the customs union.

January 11, 2021

Austro-American Society Celebrates 75th Anniversary

The Austro-American Society (ÖAG) celebrated it 75th anniversary on January 6, 2021. The Austrian Ambassador to the USA, Martin Weiss, the U.S. Embassy in Vienna, and the heads of the ÖAG used this occasion to underline the goals of the society's. These comprise the strengthening of the Austro-American relations in the aspects of social, economic, cultural and public life.

January 7, 2021

WKO: Lockdown Extension a "Blow For Domestic Trade"

Once again the Austria's Federal Chamber of Commerce (WKO) does not entirely support the federal government in its decision to extend the lockdown and cancel the opportunity to escape the lockdown with a negative Covid-19 test. The WKO demands plans for the affected companies and aid for the suppliers indirectly affected by the crisis.

January 5, 2021

Austria's Real Estate: Single-Family Houses Expensive, Offices Cheap

Also as a result of the Covid-19 crisis, living spaces with a garden, a balcony or a terrace see a significant increase in demand, while office spaces and other commercial real estate loses value. Another new aspect of the real estate market in Austria is the rise in demand for single-family houses in the outskirts of bigger cities.

January 5, 2021

Investment Agreement with China Opens Doors

The European Union and China have agreed on a joint investment agreement. The core elements of the "Comprehensive Agreement on Investment" (CAI) include better market access, sustainability and a level playing field for European and Chinese companies. Considering the fact that China will be the biggest economy of the world in the near future, the agreement opens doors to a huge market.

December 30, 2020

Schramböck: "UK Will Remain Important Partner in Europe"

Although the United Kingdom will be leaving the European Union's customs union and single market at the end of 2020, Austria's Economics Minister Schramböck assures that "Austria's companies will continue to play a significant role in the UK markets" in the future. The newly negotiated agreement between the UK and the EU will provide a proper framework for these business relations.

December 30, 2020

Impact of Internationals in Austria Remains Huge

According to recent numbers, Austria's official residence secures more almost 19,000 jobs and has an economic impact of EUR 1.35 billion gross value added. This is a significant increase from 2018 although Covid-19 has turned diplomatic relations and encounters into a virtual setting.

December 29, 2020

German Wind Farms Sold to Austrian Energy Provider

Austria's Wien Energie managed to acquire 49 percent of the wind farm portfolio of the German Encavis in Austria. This deal will further reduce the CO2 emissions of the energy company and adds an additional 37 gigawatt hours of renewable energy for households in Vienna and the surrounding area.

December 23, 2020

WKO Heads Demand Clear Plan for Path to Normality

The heads of Austria's Federal Economic Chamber demand a clear plan that shows a step-by-step path to normality. They demand regular mass testing, where negative test results are connected to more freedoms. According to them, the lockdown immediately after Christmas will hit many companies particularly hard.

December 18, 2020

ECJ Bans Exhaust Software: Anschober and Gewessler Demand Changes

The European Court of Justice has decided to ban software used to embellish exhaust emission values in diesel cars. Austria's Climate Protection Minister Gewessler and Consumer Protection Minister Anschober hope for a move by the car manufacturers in order to provide retrofits and compensate injured consumers.

December 17, 2020

European Space Agency Appoints Austrian Director General

The European Space Agency (ESA) has appointed an Austrian as its Director General. Dr. Josef Aschbacher will be taking over the position as the head of the ESA in July 2021 and will serve for four years. The Austrian has worked for the ESA several decades already and will now enter the "cockpit" of the Agency.

December 17, 2020

WKO and IV: Need for "Climate Protection with Common Sense"

The heads of the Austrian Federal Chamber of Commerce (WKO) and the Federation of Austrian Industries (IV) demand appropriate framework conditions for climate-friendly behavior instead of the race for ever higher climate targets. Both Secretary Generals want "climate protection with common sense".

December 10, 2020

International Visitor Leadership Program Celebrates 80th Anniversary

The International Visitor Leadership Program (IVLP), U.S. Department of State’s premier professional exchange program, celebrates its 80th anniversary. The program has opened doors for more than 225,000 participants from all over the globe and has connected current and emerging leaders to US culture and society.

December 9, 2020

Ryanair to Close its Base in Vienna

The low-cost airline Ryanair will be closing down its base in Vienna. According to a leaked internal report, the parent company of Austrian Laudamotion, will move the base of its three Boeing planes to a not yet disclosed European airport and close down the base on Vienna's airport.

December 4, 2020

Europe-Wide Innovation Award Goes to Wiener Linien

The Europe-wide Innovation in Politics Award 2020 goes to the research project RemiHub, coordinated, among others, by Wiener Linien and the Vienna University of Technology. RemiHub focuses on the urban parcel delivery and was already tested for different delivery services in Vienna.

December 3, 2020

EIB Group Cooperates with Hypo Vorarlberg

The European Investment Bank (EIB) has decided to support Austria's economy by unlocking part of Hypo Vorarlberg's regulatory capital. These funds will be used to invest in energy efficiency projects which are directly in line with the EIB's commitment to increasing its climate action lending.

December 1, 2020

Further Increase of Investment Subsidy

The Austrian government has decided to increase its budget for investment subsidies. The high demand for this subsidy by companies located in Austria has exceeded the expectations of the government and is therefore adjusted upwards by another EUR 1 billion in order to further promote investments into digitalization, sustainability and other sectors.

November 30, 2020

Vienna Prepares for Mass Testing

The City of Vienna prepares to test its population for Covid-19. The responsible city departments, emergency organizations, and the Austrain Armed Forces have taken measures to provide test capacities for the period from December 4 to December 13. Within this period, every Viennese resident above the age of 10 is eligible for testing.

November 30, 2020
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