Latest Headlines about other Business & Economic Developments

Demand for More Artificial Intelligence in Austrian Economy

According to a study by the Boston Consulting Group (BCG), only 12 percent of Austrian businesses use artificial intelligence in their operations. For Alfred Harl, representative of the Austrian Federal Chamber of Commerce in this particular sector, Austrian companies will need to stay up to date with regard to new technologies and not be "left behind in the strong international environment."

Yesterday

Potential Closure of MAN Plant in Austria

After the majority of the workforce in the MAN plant in Steyr voted against a takeover concept of a potential investor, Austria's federal and state governments are highly invested in supporting a solution that would save more than 1,000 jobs in Steyr, Upper Austria. No solution would mean a closure of the plant by 2023.

Yesterday

Covid-19: Austria Ranks Second for Aid Measures in EU

According to recent calculations published by the International Monetary Fund (IMF), Austria ranks second for Covid-19 aid measures among all EU Member States. Only Greece has spent a higher portion of its GDP (13.7%) for aid instruments, while Austria invested 11.7 percent to relieve its businesses and people.

April 12, 2021

"Fixing the Future": Austria's Foreign Ministry Searches For Innovative Ideas

Together with the cultural broadcaster Ö1, Austria's Foreign Ministry and its network of Austrian representations abroad is searching for innovative ideas that could solve global problems. The possible admissions can relate to various contexts, among them are problems in technology, environment, business, and social issues.

April 9, 2021

Vienna as Industrial Location: Proximity to Eastern Market Loses Importance

A recent survey shows that Vienna's infrastructure and quality of life are location advantages for Vienna as an industrial location, but the proximity to eastern European and other eastern markets declines in importance. Only 40 percent of the 172 surveyed Viennese industrial companies see the proximity to the eastern EU countries as an advantage,

April 8, 2021

Austrian Unemployment Decreases in March

The number of unemployed Austrians has decreased significantly in March compared to the previous month. About 56,000 fewer people have been reported unemployed, while the number of people in training at the Austrian Arbeitsmarktservice (AMS) has increased. This is likely due to the recent measure, which provides training priorities in areas where there is a particular demand for qualified workers.

April 7, 2021

New Train Connection Between Prague and Vienna

The former, so-called "Vindobona" train connection between Vienna and Prague could be soon reinstated again. Talks between Austrian and Czech politicians have been positive for a connection between the two countries' capital cities, which would especially benefit Austrians from the Waldviertel, a region in the northwest of Lower Austria.

April 7, 2021

WKO Heads: "We Cannot Afford a Pause in Vaccination"

The heads of the Austrian Federal Chamber of Commerce (WKO) are delighted about the possible acquisition of the Russian Covid-19 vaccine "Sputnik V" by the Austrian government. Furthermore, they hold on to their idea of using companies for vaccination programs, similar to the implementation with in-company testing.

March 31, 2021

European Year of Rail: Austria's Gewessler Attends Kick-Off Event

The Portuguese Council of the EU Presidency has a strong focus on railroads with the European Year of Rail. At the kick-off event, which was attended by the EU Transport Ministers, Austria's Leonore Gewessler looked forward to the investments into the railway system and hoped for promotion of the mobility revolution.

March 30, 2021

Vienna Introduces New Covid-19 Testing System

The City of Vienna has introduced the new testing system "Alles Gurgelt!". Every Viennese is eligible to pick up PCR tests at the 152 BIPA stores throughout Vienna, record herself or himself while conducting the test and drop off the tests at one of 620 REWE locations. The results of the test is available after 24 hours and works as "entry test" for body-related services.

March 29, 2021

Pandemic Affects Crime Statistics in Austria

The Covid-19 pandemic has positively affected Austria's crime statistics. In 2020, total crime decreased by 11.3 percent, while the clearance rate increased to 54.2 percent. Cybercrime remains among the major challenges and, in fact, was one of the only categories, which saw a major increase of cases in 2020.

March 22, 2021

Italian Secretary of State for Europe and Edtstadler Support "Green Passport"

Austria's Minister for European Affairs Karoline Edtstadler travelled to Rome to meet with some representatives of the Italian government. With her counterpart, the Italian Secretary of State for Europe Vincenzo Amendola, Edtstadler discussed the Europe-wide "Green Passport" for Covid-19 vaccinated, tested and recovered people.

March 19, 2021

All Eyes on Vienna for ViennaUP'21

Central Europe's largest startup event "ViennaUP'21" will once again take place in the spring of 2021 in Vienna. The event offers a variety of different programs and business-to-business networking opportunities. Many other events, such as the "Fintech Week" and the "Creative Days Vienna" will be part of ViennaUP'21.

March 18, 2021

High-Level Exchange on the "European Battery Alliance" with Austrian Participation

Austria's State Secretary at the Ministry of Technology, Magnus Brunner, participated in a high-level discussion on the "European Battery Alliance", which focused on the goal of making Europe an important and global player for battery innovation. Austria will be investing EUR 45 million in the project, while Austrian companies add another EUR 110 million.

March 17, 2021

Austria Switches Completely to Renewable Energy Sources

By 2030, Austria's current government wants to achieve a total anergy transition. In the next nine years, the government plans for massive investments in the renewable energy sector in order for Austria to be able to produce 100 percent of its electricity with renewable energy sources by 2030.

March 12, 2021

Schallenberg on the International Women's Day: "Women Must Play a Key Role in Decision-making"

Austria will take over special responsibility for women's policy concerns in the UN Commission on the Status of Women at the end of March. On the occasion of this role and the International Women's Day, which was celebrated on March, 8, Foreign Minister Alexander Schallenberg demands more women in decision-making roles.

March 11, 2021

Crisis in Yemen: "Humanitarian Aid is Vital for Survival"

In order to alleviate the humanitarian crisis in Yemen, the Austrian government has decided to provide EUR 3 million for the malnourished and diseased people from Yemen. The funds will be provided to the International Committee of the Red Cross, which is currently working in Yemen to better the situation for the Yemeni population.

March 9, 2021

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

Austria Enters for the First Time as U.S. Exits Top Ten in Bloomberg's Innovation Index

Austria moves up one place to 10th place in the latest Bloomberg Innovation Index, while the U.S. dropped out of a top 10 that features a cluster of European countries. The Bloomberg index analyzes dozens of criteria using seven equally weighted metrics, including research and development spending, manufacturing capability and concentration of high-tech public companies.

March 2, 2021

Austria's Culture Sector Met With German Scientists to Discuss Opening Steps

Austria's State Secretary for the Arts and Culture Andrea Mayer and other representatives of the arts industry met with the authors of two German studies which concluded "that the risk of infection in the theater, cinema, opera or concert hall is a calculable one".

March 1, 2021

Vienna Ice Dream Concludes Extraordinary Season

The 26th Vienna Ice Dream has closed its doors for this season. After 66 days of ice skating under special circumstances, the organizers are pleased about the results and are particularly delighted about the fact that there was not a single reported case of infection which happened on the venue.

March 1, 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

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

Austrian Initiative Receives Civil Society Solidarity Award

The Austrian initiative #EUROPAgegenCOVID19 has received the European Economic and Social Committee's (EESC) Civil Society Solidarity Award for its effort in the Covid-19 crisis. The non-profit organization focuses on debunking false theories and myths with regard to the Covid-19 pandemic.

February 16, 2021

Germany Extends Entry Ban for Tyrol

The German government has decided to extend its entry ban for Tyrol until March 3, 2021. The German Health Minister Spahn sees this step as "necessary" in order to prevent the South African Covid-19 mutation from spreading in Germany. Austria's government and the EU Commission demand more coordination and dicussion.

February 16, 2021

Down Under Hotel Flair for Vienna

Adina Apartment Hotels, a hospitality brand and a market leader in high-quality apartment-style hotels originating from Australia, has announced its flagship Adina brand will debut in Vienna. One of only seven hotels to offer a swimming pool in Vienna, the "Adina Apartment Hotel Vienna Belvedere", developed by Signa Real Estate Management GmbH, will literally make a splash in Vienna’s ultra-modern Quartier Belvedere when it opens in April of 2021, completed with a heated indoor pool and sauna.

February 15, 2021 · Sponsored Content

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

Swedish Digital Platform Sellpy Launches in Austria

The e-commerce platform for selling second-hand fashion has now also been launched in Austria, following Sweden, the Netherlands and Germany. As a result, Sellpy, which is part of the H&M Group, is now active in four countries.

February 3, 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

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

Schallenberg Delighted About Prohibition of Nuclear Weapons

Austria's Foreign Minister Alexander Schallenberg is delighted about the Treaty on the Prohibition of Nuclear Weapons entering into force. 90 days after ratification by the 50th signatory country, the Treaty entered into force on January 22, 2021. Schallenberg emphasizes the importance of destroying nuclear weapons "before they destroy us."

January 27, 2021

Austria Joins International Renewable Energy Agency

Since January 1, 2021, Austria is member of the International Renewable Energy Agency (IRENA). During the Agency's General Assembly, Austria's Climate Protection Minister demands a transformation of the world's energy system towards 100 percent renewables and is pleased that Austria will make a contribution to this change.

January 26, 2021

US Ambassador Traina Leaves Austria

The U.S. Ambassador to Austria Trevor Traina has concluded his mission and returns to his home country. Austria's Chancellor Kurz and Foreign Minister Schallenberg thank Traina for his commitment to better the bilateral relations between the two countries, while Traina himself bids farewell in a video starring highlights of his term.

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: Austria to Receive EUR 16.8 Million to Cushion Impact

To alleviate the likely negative effects of the United Kingdom leaving the European Union, the European Commission has set up a reserve, from which EU member states will receive funding. Austria is entitled to EUR 16.8 million, while other member states, which have closer trade links to the leaving party, will receive more.

January 15, 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

International Start-Ups Are Attracted by Vienna

The Vienna Business Agency has received more applications for the Vienna Startup Package in 2020 than ever before. Out of 321 applications, the Agency has selected 16 winners from nine different countries, which will be able to take advantage of a package that includes coaching sessions, consulting and networking opportunities.

January 13, 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

Austria Has New Federal Minister for Labor

After the resignation of Susanne Aschbacher as Federal Minister for Labor, Chancellor Kurz has presented her successor. Martin Kocher, Professor of Behavioral Economics and Director of the Institute for Advanced Studies (IHS) will take over the Federal Minister position as an independent expert.

January 11, 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

Selmayr and Beste Meet to Discuss German EU Council Presidency

Ralf Beste, Germany's ambassador to Austria, and his fellow countryman Martin Selmayr, representative of the European Commission in Austria, met to discuss the year of 2020 and the German Presidency of the EU Council, which will be ending on December 31. Both politicians underlined the importance of the European Union in finding solutions for international problems.

December 29, 2020

Vienna's Air As Good As Never Before

Even without the lockdown, Vienna would have had a decent year with regard to air quality. Due to the city's investment into climate protective measures in the recent years, the pollution level has decreased and has lead to the best air quality since measurements began 50 years ago.

December 29, 2020

Austria Ranks Fifth in Share of Renewable Energy Sources

In a newly published report by the European statistics office Eurostat, Austria is one of the most environmental-friendly EU member countries with regard to energy sources. Austria ranks fifth in a statistics that gathers data about the share of renewable energy sources in the total gross energy consumption of a country.

December 21, 2020

Funding for Erasmus Program Is Increased

One of the European Union's most successful programs, the Erasmus+, will once again receive an increase of funding. In 2019 alone, the program supported almost 1 million learning stays abroad and provided funding for more than 100,000 organizations and about 25,000 projects.

December 16, 2020

European Innovation Council Funds Austrian Projects

Two projects with Austrian-based research are involved in a new funding project of the EU's European Innovation Council. A total amount of EUR 74 million is distributed among 18 projects that research in cutting-edge technologies. Additionally to the funding, coaching and business development supported is provided by the Council.

December 14, 2020

New European Climate Target: Kurz and Gewessler Delilghted

The European Council has agreed on a new climate target for 2030. The member states want to decrease annual greenhouse gas emissions by at least 55 percent and also take other steps on their path to climate neutrality until 2050. Austria's Chancellor Kurz and Minister Gewessler are pleased with the agreement.

December 11, 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